This week, Mayor Mamdani unveiled his executive budget, turning a projected multibillion-dollar deficit into a balanced plan without major service cuts, a property tax hike, or tapping a rainy-day fund.
The plan relies largely on help from Albany and a $2.3 billion pension plan restructuring that would push costs from 2032 to 2037, but it still requires approval from the state, retirement funds and unions. The city budget must also still be negotiated with the City Council.
NY1 investigative reporter Courtney Gross, political reporter Bobby Cuza, and statehouse reporter Bernadette Hogan break down what’s in, what’s out, and how the mayor got it done.
After that, the re-introduced Community Opportunity to Purchase Act, or COPA, would give some nonprofit groups the first chance to buy certain distressed multifamily buildings. Supporters, including Council member Sandy Nurse, say the proposal would help preserve affordability. Opponents say it may be illegal.
The “Off Topic” team looks at the bill, which was vetoed by former Mayor Eric Adams and has now been revived despite fierce opposition from the real estate industry.
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What happens when three New York reporters sit in a (small) room and talk politics? Join the NY1 political team each week for a conversation where no topic is off-limits and everything is on the record.
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