#muni-budget-shortfall

#muni-budget-shortfall

John Kaehny has written and successfully lobbied for the passage of state and New York City laws related to government transparency and accountability, including the first open data law in the world in 2012.

"I think this is a worthwhile investment in the future so that we are protecting the workforce and people can live with the dignity they deserve" when they retire, said state Sen. Jessica Ramos, a Queens Democrat.

"What's the consequences if we allow 800 residents to be in a severe fire with no evacuation routes? We're being asked to choose between two really bad options."

The insights from this report help us think about potential gaps in the loss mitigation waterfall and the types of homeowners who may benefit from targeted support when they experience a crisis.

Mamdani stated that the City Council's budget strategy effectively ensures this structural deficit will continue indefinitely, impacting vital city services and failing to solve deep financial problems.

Campaigner Aysha Hawcutt stated that residents were 'not anti-homes', but believed the Adlington plan was 'the wrong proposal in the wrong place'. She expressed pride in the community's resilience against the development threats.

Through Community Facilities Districts (CFD), Municipal Utility Districts (MUD), Public Improvement Districts (PID), Community Development Districts (CDD) and reimbursement districts (RD), builders can potentially shift infrastructure costs off their balance sheets and onto special districts that homebuyers ultimately absorb through property taxes without potentially adding debt to the builder's books.

CITY HALL - MAYOR ZOHRAN MAMDANI said New York City faces a projected $12 billion budget shortfall across fiscal years 2026 and 2027, according to a press release. He blames the "staggering" fiscal mismanagement by former Mayor Eric Adams for underbudgeting core services like cash assistance, shelter operations and special education. Mamdani also points to what he called intentional understatement of future gaps - citing, for example, $860 million budgeted for FY26 cash assistance versus projections nearing $1.7 billion -

"If we don't get what we need [in terms of extra government help] then a Section 114 Notice will come in, which is effective bankruptcy. We'd then get administrators come in, in effect - they'd then make a plan for where the money gets spent in Worcestershire. It would be a catastrophe. We're going to have to halt projects that were put into the budget by the previous administration, things that maybe were 'nice to have', but we can't afford them."