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Mayor Michael Bloomberg's West Side Development Plan Poses Significant Risks for the City Budget
The Independent Budget Office reports dangers in the plan for taxpayers in the future. ![]()
New from the Independent Budget Office (IBO):
The Bloomberg Administration plans to go outside the city's usual means of borrowing to finance the extension of the #7 subway and other improvements on Manhattan's far West Side. But the Hudson Yards proposal will cost $1.3 billion more than if the city included the project in its capital plan. And the plan still poses significant risks for the city budget. This new fiscal brief is included as an attached pdf file, and is also available on IBO's Web site. To receive printed versions of this or any other IBO publication, e-mail us at ibo@ibo.nyc.ny.us or call (212) 442-0632. |