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Bloomberg looks to provide city relief

October 31, 2008
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NEW YORK - To help New Yorkers through the economic downturn, Mayor Michael Bloomberg said yesterday he wants to relax tax deadlines for some property owners and create a website for laid-off financial workers to provide job listings.

At a City Hall news conference, Bloomberg outlined a series of immediate steps to ease the financial burden for New Yorkers struggling with the upheaval on Wall Street.

"There will be no magic bullet or easy fixes," Bloomberg warned.

But, he added, "We will survive this crisis."

Citing the precarious financial situation, Bloomberg recently declared that the city needs him to stick around for four more years and announced that he plans to run for reelection. He convinced the City Council to change the city's term-limits law so that he could do so, arguing that the city needs his leadership and expertise.

Bloomberg has ordered agencies to cut spending by 2.5 percent this fiscal year and another 5 percent the following year to help bridge growing budget gaps.

The projected deficit for next fiscal year, which begins in July, is expected to be at least $3 billion when the city releases its latest figures next week.

The mayor had also asked city departments to find ways to help people get through these tough times.

His administration intends to help property owners with the payment schedules on their taxes, allowing them to make smaller payments quarterly, rather than larger ones twice yearly.

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