| NEW YORK, June 23
NEW YORK, June 23 New York City Mayor Michael
Bloomberg and City Council Speaker Christine Quinn announced a
budget deal on Sunday, unveiling a fiscal plan that Bloomberg, a
three-term mayor in his last year in office, will pass on to his
Bloomberg stood in the City Hall rotunda alongside Quinn,
who is a leading candidate in the Democratic mayoral primary in
two months, though recent polls suggest her once-formidable lead
has been shrinking.
The agreement, which comes eight months after Superstorm
Sandy devastated parts of the city's coastal areas, includes
$250 million to help prepare for the next major storm and $58
million for public housing to make up for a reduction in federal
The budget largely mirrors last year's financial plan,
The deal marks the eighth consecutive on-time budget
approved by the city and does not include tax increases. The
city will face a budget gap of about $2 billion in fiscal 2015,
Bloomberg noted two ways the city's fiscal situation has
improved since May, when he presented his executive budget
proposal: The sale of 2,000 new taxi medallions will raise $300
million for the upcoming fiscal year, which begins July 1, and,
by taking advantage of low interest rates, the city will be able
to save about $200 million in debt service payments.
Quinn said the city has a better fiscal outlook than any
time since the 2008 financial crisis and said the budget would
leave the city on "solid financial footing" for the next
She said the budget allows the city's public libraries to
maintain their hours of operation, restores cuts to child care
and after-school services, and ensures that senior and community
centers in public housing facilities stay open.
"This budget process should serve as an example to our
colleagues in government throughout the country, that if you
focus on delivering and check the grandstanding at the door, you
can accomplish a great deal - and that's what this is all
about," said Quinn.
Asked to reflect on his time in office, Bloomberg, who took
office months after the attacks of Sept. 11, 2001, declined.
"I never should be measuring myself. I'll leave that to
historians," he told reporters.
A Quinnipiac University poll released last month found that
Quinn had the backing of 25 percent of Democratic voters,
followed by former U.S. Representative Anthony Weiner, who had
15 percent. Public Advocate Bill de Blasio and former
Comptroller William Thompson both followed with 10 percent,
while John Liu, the city's current comptroller, had 6 percent.
In a Quinnipiac poll from February, Quinn had the support of
37 percent of Democratic voters.