The city’s child-welfare agency could lose as much as a half-billion dollars in state and federal funds if it continues to deny mandatory raises to 28,000 workers, sources said yesterday. After months of negotiations, the state is giving the Administration for Children’s Services until Dec. 31 to file reports assuring that it will dish out [...]
In his bid to cut state spending, Gov. Paterson would spring hundreds of prison inmates – a plan that has drawn sharp criticism from Republicans. Paterson would make it easier to release terminally and chronically ill violent inmates – except murderers. Other inmates who behave for a “consistent amount of time” and complete prison programs [...]
The City Council is prepared to approve on Thursday Mayor Michael R. Bloomberg’s proposal to raise property taxes by 7 percent, and to increase a tax on hotel rooms, to help plug an estimated $4 billion budget shortfall over the next 18 months, according to people briefed on the negotiations. “The votes are there,” said [...]
With Manhattan real estate prices now estimated to be down by as much as 20 percent since the summer, New Yorkers may sense an opportunity to buy in. “I’m in the market to buy in the next year or two,” said Arzo Anwar, 31, who rents in the Financial District. “I’ve heard that prices have [...]
It was a quick, upstate tour for Caroline Kennedy on Wednesday as she broke the silence on her decision to pursue Hillary Clinton’s senate seat. First it was Syracuse, then Rochester, then snowy Buffalo. “Now it’s time I think with the problems that we have for me to really step forward and do more,” said [...]
The 17-member Metropolitan Transportation Authority Board approved its so-called “doomsday budget” today, saying members had little choice and no options. The spending plan calls for a 23-percent increase in fare and toll revenues and drastic service cuts – including the elimination of entire bus and subway lines. MTA Chairman Dale Hemmerdinger said that it is [...]
As the city’s commercial real estate market continues to cool, many opportunistic investors are biding their time, watching to see whether prices will come down. But bargain-hunters may not have to wait much longer, according to a report released Wednesday by trend-tracking Real Capital Analytics. In the New York metro area, there are already 32 [...]
Lilliam Barrios-Paoli, who was removed from her job as the head of New York City’s welfare agency in 1997 after a tumultuous year in which she clashed with Mayor Rudolph W. Giuliani, is returning to city government as commissioner for the Department for the Aging. Mayor Michael R. Bloomberg announced the appointment on Wednesday, calling [...]
Happy holidays, New York – it looks like city residents will get their $400 property tax after all. City Council sources tell NY1 that a budget deal has been reached tonight between council members and Mayor Michael Bloomberg, ending weeks of heated negotiations. The council is expected to vote on it at its stated meeting [...]
Falling energy prices sent the New York area Consumer Price Index down 1.6% in November, the index’s third consecutive monthly decrease and the steepest one-month drop in New York prices since the Bureau of Labor Statistics began publishing the index in 1940. The local CPI, which tracks retail prices in the New York metropolitan area, [...]
