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Podcast episode City Budget

Episode 24 - 2.7%

December 20, 2017
2.7% is the economic growth forecast for 2018 in the Port Authority’s 17-county region, which encompasses more than 200 municipalities. The Port Authority's Chief Economist Alex Heil joined WT[D]P to discuss the economic and transportation trends that impact the Port's bottom line.
Report Housing

NYCHA Capital

December 20, 2017
Part 1 of our analysis reviews NYCHA's capital needs and spending patterns over the last 5 years.
Podcast episode City Budget

Episode 23 - 1996

December 14, 2017
1996 is the last time a comprehensive regional plan was issued by the Regional Plan Association. Special guest Chris Jones, Senior Vice President and Chief Planner at RPA, joined the podcast to discuss the 4th Regional Plan, which was released last month. The plan contains 61 separate recommendations in four action areas that represent major challenges and areas of opportunity.
Podcast episode City Budget

Episode 22 - 10 years

December 06, 2017
10 years is the amount of time the de Blasio administration says it will take to shut down Rikers Island.

Special guest Michael Jacobson is the executive director of the CUNY Institute for State and Local Governance. He was once the City's Correction Commissioner as well as the Probation Commissioner.  He is a member of the Lippman Commission, convened by the City Council to solve the crisis at Rikers. Michael joined the podcast to discuss the Commission's findings--namely to close Rikers and move the inmates to facilities near courthouses and civic centers throughout the boroughs.
Report Economic Development

Tax Increment Financing: A Primer

December 05, 2017
This report provides an overview of TIF and a five-point checklist drawn from lessons learned from past projects to help identify potential TIF projects.
Podcast episode City Budget

Episode 21 - $26 billion

November 30, 2017
$26 billion is the amount of property taxes the City will collect this fiscal year-- it is the largest single source of revenue that funds NYC government. Special guest Martha Stark is a former Commissioner of the Department of Finance. She joined the podcast to discuss the complexities of the system for valuing and taxing real property and explained why reform is badly needed.
Podcast episode City Budget

Episode 20 - 44 days

November 16, 2017
44 is the number of days left in term-limited Council Member Daniel Garodnick's tenure. Council Member Garodnick has been a voice of reason in the City Council, having raised important questions about the city budget, economic development, and contracts. He chairs the City Council's Committee on Economic Development, is on the budget negotiating team, and in his final months has been fighting to pass reform of the commercial rent tax.
Podcast episode City Budget

Episode 19 - $67 Billion

November 09, 2017
$67 billion is the amount of state and local taxes New York State residents deduct from their federal tax returns each year. Known as SALT, this deduction is the topic of intense debate in Washington. Congressional leadership proposes to eliminate or cap SALT in order to offset the cost of corporate and other tax cuts.

Special guest Jay Kriegel, Senior Advisor at Related Companies, is a New York communications and strategic advisor who has been involved in a number of major New York political and policy initiatives. In 1986, Jay led a national coalition that thwarted an attempt to eliminate the SALT deduction, and today he has taken a leadership role in the coalition to protect it.
Podcast episode City Budget

Episode 18 - 348 and 74

November 02, 2017
The data points are 348 and 74.

348 is the number of Local Development Corporations and Industrial Development Agencies in NYS. These corporations made $16.2 billion in economic development investments from 2011 through 2015, yet only 5 of the state's 62 counties have had job growth higher than the national average. For this half of the podcast WTDP is joined by CBC Research Associate, Riley Edwards, author of the recent report: "Opaque and Duplicative - Local Economic Development in New York State."

74 is the number of Business Improvement Districts in NYC. CBC's report "BIDS - Organization, Oversight, and Transparency" describes the history and nature of these organizations, what services they provide, and whether property owners are getting their money's worth. WTDP is joined by CBC's Director of Research, Tim Sullivan, to explain.
Report City Budget

BIDs - Organization, Oversight, and Transparency

November 02, 2017
There are currently 74 Business Improvement Districts (BIDs) in New York City serving 85,000 businesses in more than 42,000 properties. BIDs derive the bulk of their funding from a special assessment fee levied on property owners, and collectively BID assessment revenues totaled more than $100 million in fiscal year 2016. This policy brief examines the process for setting assessment fees, their uses, and the city’s oversight of BIDs.
Report Economic Development

Opaque and Duplicative

October 30, 2017
Industrial Development Agencies (IDAs) and Local Development Corporations (LDCs) should be consolidated at the regional level and their reporting requirements strengthened.
Podcast episode City Budget

Episode 17 - $95 billion

October 25, 2017
This episode's datapoint is $95 billion, the current value of all of the future retiree benefits, except pensions, already earned by current retirees and employees of NYC. This amount, referred to as OPEB, or 'Other Post-Employment Benefits,' is primarily the cost of health insurance for NYC employees, their spouses and families. Special guest Dr. Thad Calabrese of NYU, and author of CBC's latest report on this subject, "The Price of Promises Made," gives an in-depth look at the City's OPEB obligations, compare them to those of other cities around the country, and explains why the City should establish more appropriate benefits and funding arrangements.
Report Pensions & Benefits

The Price of Promises Made

October 25, 2017
CBC presents options for tackling this looming $95 billion liability threatening New York City's fiscal health.
Report Capital Spending

Bridging the Financial Gap

October 12, 2017
Tolls for the new Governor Mario M. Cuomo Bridge have not been released yet, but based on construction costs, CBC estimates it will be approximately $10 for cars, double the current rate.
Podcast episode City Budget

Episode 15 - 60+ years

October 12, 2017
This episode's datapoint is "60+," as in the combined years of professional experience of special guests Renee Boicourt and Kent Hiteshew in matters of public finance. Listen to a live recording from CBC's recent event, "Fiscal Crises," where our expert guests discussed lessons learned from the bankruptcy of Detroit and the ongoing crisis in Puerto Rico.
Podcast episode City Budget

Episode 12 -77,651

September 21, 2017
77,651 is the number of affordable housing units financed thus far in Mayor de Blasio’s 10-year plan to construct or preserve a total of 200,000 affordable units over 10 years. Since the Mayor took office, NYC Housing Preservation & Development (HPD) has overseen the commitment of $2.8 billion for affordable housing, most of it through loans and development programs.

HPD Commissioner Maria Torres-Springer joins the podcast to discuss the progress of and challenges to the ambitious Housing New York plan.
Podcast episode City Budget

Episode 11 - $66 Billion

September 07, 2017
Today’s data point is $66 billion – the amount New York’s school districts received in revenue during the 2015-2016 school year. The state's 674 districts collect an average of $23,635 per student - however, 15 districts surpass this amount, collecting $40,000 per student, while 11 districts fall short, collecting only $11,000 per student.

Broken down by revenue source there’s even more variability, with some districts getting less than 5 percent of revenues from the state, while others rely on state funding for more than 80 cents of every dollar they spend.

Dig deeper with CBC's related blog and interactive map at www.cbcny.org
Podcast episode City Budget

Episode 10 - 30%

August 31, 2017
This week's data point is 30% - the share, based on dollar value, of city contracts to be awarded to minority- and women-owned businesses by fiscal year 2021, according to a goal set by Mayor Bill de Blasio in September 2016. New York City Deputy Mayor Richard Buery joins the podcast to discuss his efforts to meet that goal.