Corona Mac Park’s name is derived from two sources: the first part originates from the surrounding neighborhood of Corona, and the second half comes from the adjacent housing project which was funded by the Municipal Assistance Corporation (MAC). MAC is a New York City agency created in 1975 to oversee the city’s fiscal crisis and budget management. It functions as a public benefit corporation, and is authorized to issue its own debt securities, which are backed by revenues from sales tax, stock transfer tax, and per capita aid from the State, to fund projects such as the nearby housing project.
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