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December 18, 2018The Metropolitan Transportation Sustainability Advisory Workgroup Report released today provides a sober look at the fiscal and managerial challenges facing the MTA.
December 18, 2018City officials cannot continue to expect the City can build its way to a solution; making real progress will require implementing operational strategies that alter the use of space and redirect students to facilities with capacity.
Blog City Budget
December 14, 2018The 2019 Commission will avoid the shortcomings of recent commissions if it stays true to its stated criteria and pursues Charter revisions that simplify and update the document.
Podcast episode City Budget
December 13, 20182,268 is the average daily number of people in adult psychiatric centers in New York State, a decrease from a peak of more than 93,000 people in 1955. Stephen Eide, a Senior Fellow at the Manhattan Institute, discusses the impacts of deinstitutionalization in New York.
December 13, 2018This paper was prepared by HR&A Advisors as a background paper for the December 2018 CBC Conference on most important fiscal and economic issues facing New York State. The paper provides recommendations for how NYS should prioritize, fund, and deliver key infrastructure investments.
Blog State Budget
December 13, 2018There is significant revenue potential from the marijuana industry, but research suggests that many months or years of careful planning precede consistent revenues.
December 12, 2018The New York City Housing Authority's (NYCHA's) NYCHA 2.0 plan can help stabilize the system and deserves support.
Podcast episode City Budget
November 30, 201818.6% is the poverty rate in New York City. Greg David and Cara Eisenpress, both from Crain's New York Business and the Craig Newmark Graduate School of Journalism at CUNY, discuss their recent reporting exploring New York City's safety net, how it's funded, and how it compares to other places (hint: a lot better).
Testimony Pensions & Benefits
November 29, 2018Savings to health benefit expenditures are crucial to attaining labor settlements that are fair and reasonable for both City employees and taxpayers.
Letter Pensions & Benefits
November 27, 2018CBC Recommends veto of A8164-b/S3770-b, A8402-b/S6435-b, A9909/S7705, A9910/S7704, and A10735/S7933.
November 27, 2018CBC makes recommendations for property tax reform to fix problems with transparency and equity of the system.
Report City Budget
November 25, 2018The City of New York spends more than $1.1 billion annually in an effort to provide its residents and visitors this vital service, but the money is not used wisely.
Video City Budget
November 25, 2018Citizens Budget Commission releases recommendations on how #FDNY should allocate its resources.
Press Release City Budget
November 25, 2018CBC today released a report that highlights major inefficiencies in the City's current EMS and identifies reforms.
Op Ed Economic Development
November 23, 2018As New Yorkers search for Black Friday deals, including on Amazon, we are also scrutinizing the deal offered to the retail giant to come to Long Island City.
Blog Economic Development
November 21, 2018Amazon has committed to creating 25,000 full-time high-paying jobs over ten years, investing approximately $2.5 billion, and building 4 million square feet of office space at its new headquarters in Long Island City, with the possibility of expanding to 8 million square feet and 40,000 jobs. To facilitate this investment, Amazon will receive benefits of up to $1.7 billion from New York State and $1.8 billion from New York City. This blog explains the incentive package provided by the State and City and offers five takeaways about the deal and its lessons for future economic development policy.
Podcast episode City Budget
November 16, 2018The data point for today is 1981, the year in which the State Legislature enacted S7000A, the landmark bill that formalized the current property tax system for New York City. A response to the Hellerstein case, which found the system was in violation of State law, S7000A essentially codified the status quo.
In doing so, it established a system of property classification, fractional assessments, caps, phase-ins, and class shares that is still with us 37 years later. These structural features and statutory requirements are the root of the system’s inequities and complexities. A home worth $500,000 can face the same tax bill as a home worth $1.5 million, while the value of a condominium unit, according to the City, is a fraction of its sale price. In fact, some buildings have values that are below the sale price of individual units. And commercial and rental property faces a higher average property tax burden than 1-, 2- and 3-family homes.
These inequities and problems have led to repeated calls for reform, including pending litigation. This past May, Mayor de Blasio and Speaker Johnson formed the Advisory Commission on Property Tax Reform. In September, the Citizens Budget Commission, the Regional Plan Association, and NYU Robert Wagner School of Public Service held a panel to discuss the problem, inequities and potential reforms
November 16, 2018Expanding public-private partnerships is a big step in the right direction, and more needs to be done to put NYCHA on sounder footing.
November 15, 2018NYCHA has an astounding $32 billion in capital needs, a nearly fivefold increase over the last decade. Today nearly all its properties require substantial rehabilitation.