Page 10 - Comptroller Brad News Today

"An increase in social distancing and remote work has resulted in growing vacant office space since late 2020. Office rents have also trended down and remained depressed into 2022," according to the Popular Annual Financial Report.

Heeding signs that a shaky economy threatens local tax revenues, Mayor Adams’ latest budget includes $2.5 billion in cuts to city-funded spending for this year and next, leaving many city jobs vacant, slowing the expansion of pre-K for 3-year-olds and reducing subsidies to the city’s libraries. With the mayor projecting budget shortfalls of nearly $3 billion next year and almost $6 billion in 2026, deeper cuts are likely.

NYC is betting that paying landlords in expensive neighborhoods to take rent vouchers will help struggling New Yorkers afford rent

It’s a sign of rising inclusion in one of the biggest municipal issuers in the nation

The municipal market was a tale of two halves in fiscal 2022, the report says.

Ten years after Superstorm Sandy pounded New York City's coastal areas, taking 43 lives and causing $19 billion in damages, many resiliency projects

All 15 bids from six entities received through the solicitation exceeded the maximum bid price set by NYSERDA and the Department of Public Service.

“The conclusion is quite straightforwardly that we are just moving too slow,” said Comptroller Brad Lander

Beyond the typical joy and nerves among families and educators, there was a more somber reality: a majority of the city’s schools were starting the year with budget cuts. 

The city’s approval process was two to three times as long as the process in cities with similar requirements like Boston and Los Angeles.