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from MuniLand:
What is Governor Cuomo’s end game?
This week, New York Governor Andrew Cuomo unveiled his proposal to create a Financial Restructuring Board to help distressed local governments manage their finances. One of the key features is an alternative binding arbitration process for unions and municipalities to resolve contract issues more rapidly. New York has an unusual employee provision that leaves all previous contract terms in place if municipalities and unions fail to reach an agreement. This provision could prevent old contracts from festering with rich wage increases and swelling employee and pension costs. Governor Cuomo said in a press release:
Growing retirement costs, declining populations, decreasing property values, and the recent fiscal crisis have all contributed to the difficult financial issues facing localities today…The Financial Restructuring Board will bring together state and local officials to help localities make tough decisions and solve this crisis now instead of kicking the can down the road.
Governor Cuomo pointed his finger at four New York cities that have balanced their budgets for years with substantial state aid. It includes a chart that details state subsidies to these cities via the Aid and Incentives for Municipalities (AIM) program:
I wondered what incentives states need to go through this restructuring therapy. It’s rare to see a politician proactively make changes that will right a floundering ship. Politicians repeatedly make fiscal decisions that pass pain to future administrations. So where are Governor Cuomo’s carrot and stick to get these cities to take action? Is his end game to get the New York State Assembly to start walking down the amount of state aid to these cities? This would be a sea change for their finances, and it would require massive structural reorganizations.
from Photographers Blog:
A piece of the past with the present
New York City, NY
By Shannon Stapleton
Every time I have to cover a story related to the September 11th attacks on the World Trade Center I always hope that I will be able to forget that day and the so many lives affected by the tragedy.
Today was not different. It's a beautiful spring day and being down near the Ground Zero site was probably the last place I wanted to be. But covering one of the last pieces being hoisted onto One World Trade Center did provide a glimmer of closure.
from Full Focus:
Grand Central century
Opened on February 2, 1913, when trains were a luxurious means of traveling across America, the iconic New York landmark Grand Central Station, with its Beaux-Arts facade is an architectural gem. It is also the Big Apple's second-most-popular tourist attraction, after Times Square.
from MuniLand:
Fitch Ratings to Governor Cuomo: Privatizing LIPA won’t work
The worst performing public service in the aftermath of Superstorm Sandy was the Long Island Power Authority. There are a lot of different estimates floating around, including 2.1 million of LIPA’s electricity customers were without power; some for up to 3 weeks. It was a public health disaster of epic proportions as households had to face late October and early November weather with no way to heat their homes or turn on the lights. The latest LIPA fiasco followed years of criticism of the organization.
New York State governor Andrew Cuomo ordered a swift investigation into the slow response of LIPA after Sandy. His Moreland Commission delivered its interim report on Monday.
from Full Focus:
A storm named Sandy
Images of the devastation up and down the coast following Hurricane Sandy.
from MuniLand:
Broke New York municipalities have more choices than bailouts or bankruptcy
Things are heating up in Albany, New York’s capitol. Someone close to Governor Andrew Cuomo appears to have been whispering into the ear of New York Post reporter Fredric Dicker:
Several of New York’s biggest cities — including Yonkers, Rochester and Syracuse — are “close to bankruptcy’’ and are looking for a bailout from Gov. Cuomo’s administration, The Post has learned.
from Photographers Blog:
NYC view atop Columbus
By Shannon Stapleton
In my 15 years of living in the New York City metropolitan area I’ve probably passed by the Columbus Monument in Columbus Circle at least a 100 times. Whether it was the numerous Thanksgiving Day Parades, going to the Whole Foods at Lincoln Center for lunch or just walking into Central Park to be honest I never really took that much time to sit and enjoy the beauty of the Columbus monument and the surrounding fountain.
So when I was asked to cover the 810-square-foot living room atop the Columbus Monument art installation titled "Discovering Columbus," by Japanese artist Tatzu Nishi, I thought where is that? On 72nd and Columbus or 59th? It really didn’t strike any visual bell in my memory.
from Photographers Blog:
Occupy Happy Birthday
By Lucas Jackson
It has been one year since a group of protesters began sleeping on the ground in Zuccotti Park to protest growing income inequality, corporate influence on politics, climate change, and a number of other issues.
One year ago no-one had heard of Occupy Wall St. and it was fascinating to watch the excitement and size of the protest grow over time. What began as a rag tag group of people who came together to make a semi-permanent presence near Wall St. to spread their message in the heart of the New York financial district quickly grew. For those of us who live and work in New York it was a refreshing change to have a news story grow organically in a city where everything is always polished and shined to dullness in order to present to the media.
from MacroScope:
Art (not) imitating life: MoMA hosts foreclosure-themed exhibit
The long-awaited recovery in the housing market could finally be taking shape, some economists believe. Housing starts are up. Home sales have risen from their cyclical lows. Inventory levels are down sharply from cyclical highs. Builder sentiment is gradually improving.
But should developers, architects, marketers and financiers just hit the restart button and repeat the patterns that led to the U.S. foreclosure crisis? According to the Museum of Modern Art exhibition, "Foreclosed: Rehousing the American Dream," the answer is no.
from Photographers Blog:
Swinging on trapezes over Manhattan
By Lee Celano
Swinging upside down on a trapeze above Manhattan, Josh Cohen gains enough height to catch the "flyer." He calls out "Listo!" meaning he is ready. "Hep!" Cohen shouts to Greg Cooper, the signal for him to let go of the fly bar and launch out for Cohen's hands. The catch is made. After swinging back twice, Cooper lets go, turns in mid air and grabs the bar, completing the "return."
Trapeze School New York is located on a rooftop at Pier 40 on the Hudson River. Since 2002, students of all ages learn trapeze maneuvers with the skyscrapers of Lower Manhattan as a backdrop. Twice a week, the staff and advanced performers like Cohen and Cooper practice well into the night honing their technique and style.
