This post has been read 1442 times!
September 20, 2014- City Comptroller Stringer is the latest pol to want to get his hands into the golden cookie jar of the BPCA.
Daily News reports, “In a letter to BPCA Chairman Dennis Mehiel, Stringer estimated Battery Park will accumulate a $400 million in over the next 10 years.
“We now have a unique opportunity at this moment in time,” Stringer told the Daily News on Friday. “After years of identifying challenges at NYCHA, we now have the opportunity to put money on the table.”
Battery Park residents and businesses make fairly high payments in lieu of taxes that generate yearly surpluses. The extra money goes to the city, which in past years has simply absorbed that money into the municipal budget.
In 2010 then-Mayor Bloomberg and the Battery Park City Authority agreed to dedicate $400 million of anticipated excess cash to help fund affordable housing in the city. Since then, $160 million of that has gone for that cause.”