Martin Z. Braun

1 week ago | crainsnewyork.com | Martin Z. Braun

Zohran Mamdani, the Democratic Socialist polling second in New York City's Democratic mayoral primary, is proposing to take on tens of billions of debt to finance affordable housing construction in the largest U.S. city. Mamdani's housing plan calls for borrowing $70 billion over the next 10 years on top of the roughly $25 billion already targeted for affordable homes in the city's 10-year capital plan.

1 week ago | bloomberg.com | Martin Z. Braun

Zohran Mamdani(Bloomberg) -- Zohran Mamdani, the democratic socialist polling second in New York’s Democratic mayoral primary, wants to tackle the city’s affordable-housing crisis by taking on tens of billions of dollars of debt. Mamdani is proposing that New York borrow $70 billion over the next 10 years on top of the roughly $25 billion already targeted for affordable homes in the city’s 10-year capital plan.

2 weeks ago | crainsnewyork.com | Martin Z. Braun

New York City may be headed for annual deficits of as much as $13 billion because it under-budgets costs for social services and overtime, according to state Comptroller Thomas DiNapoli. The largest U.S. city could face a potential budget gap of $10.6 billion in fiscal 2027 — which begins on July 1, 2026 — and the shortfall may swell to $13 billion in fiscal 2028 and be around that level in 2029, DiNapoli said in a review of the city’s five-year financial plan.

2 weeks ago | news.bloombergtax.com | Martin Z. Braun

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2 weeks ago | news.bloombergtax.com | Martin Z. Braun |Maggie Eastland

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.