Mayor Bloomberg said that Gov Spitzer’s plan to cut $327.9 million of annual aid to New York City – unrestricted funding that comes from the Aid and Incentives to Municipalities program – would have dire consequences on the city’s short- and long-term finances. The city has received the financing since 1946. The mayor also said the state should restore aid for 15 city public housing developments that were built in the 1950s with state dollars, as well as renew the $400-a-year property tax rebate that began in 2004. more [NYT]
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Bloomberg criticizes Spitzer budget
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