After Lehman Brothers collapsed last fall, it quickly became clear to the Bloomberg administration that the spiraling economic crisis was going to hit New York especially hard. The financial sector had been the city’s economic engine, driving real wages and estate prices up citywide.
So the Bloomberg administration did what it so often does Read More
Assemblyman Richard Brodsky, on a nearly seven-month campaign to battle the issuance of $430 million in additional tax-exempt bonds for the new Yankee Stadium, wants a hearing next week on the project, but the city is not eager to attend.
This morning, Mr. Brodsky sent out a press release announcing that he was holding Read More
Two of the largest planned developments of the Bloomberg administration were approved by the City Council this afternoon, rezoning two sites in Queens that will allow for more than 10,000 new apartments, more than half of which would be at below market rates.
In two separate votes, the Council approved the redevelopment of the Read More
Two city officials trekked to Washington today to respond to a Congressional inquiry into the tax-free financing for the new Yankee Stadium, where they came face-to-face with a rather stern Representaikve Dennis Kucinich.
Mr. Kucinich, leading the inquiry as chairman of the Subcommittee on Domestic Policy, queried the city’s Department of Finance Read More
Following testimony at today’s Willets Point hearing before the City Council, I caught up with Dan Scully, vice president of Tully Construction, the largest landowner in the 61-acre industrial site and a driver of much of the opposition to the Bloomberg administration’s redevelopment plan for the area. [More on the political controversy surrounding Read More
The Bloomberg administration has designated a team led by Chicago-based developer General Growth Properties and Archstone Smith to construct a 1.7 million-square-foot mixed-use, mixed-income complex on East 125th Street, the city announced today.
The selection was coupled with a vote on the project by the City Council, which this afternoon approved Read More
After receiving community pressure last year after it wanted to raze some Brooklyn houses that may or may not have been part of the Underground Railroad, the city has announced the outline of a $2 million commemoration of abolitionist efforts in Brooklyn.
The result, a year after the city announced the $2 million Read More
Two of the city’s largest planned developments are headed to the City Council for consideration, as the Planning Commission voted this morning to approve the Willets Point and Hunter’s Point South developments in Queens. The two Bloomberg administration-led rezoning plans would permit the development of more than 10,000 apartments, though many Read More
A former official at the city’s Economic Development Corporation has been fined for accepting gifts worth thousands of dollars from a private contractor that worked on jobs under his supervision. The city’s Conflicts of Interest Board today announced that Nazir Mir, a former vice president for capital construction at the EDC, has been fined $11,500. Read More
After taking heat from Assemblyman Richard Brodsky earlier this week on a deal over Yankee Stadium, the city has created a mini-retort report of its own, addressing Mr. Brodsky’s claims point-by-point.
Mr. Brodsky, who testified at Rep. Dennis Kucinich’s Congressional hearing today on the issue, lobbed a series of accusations at the Read More