News
Public Finance Wrap-Up: July 2020
Financings in July
The Comptroller’s office did not execute any financings during the month of July but remains active in monitoring markets and identifying opportunities. Information on upcoming financings will be announced via our website.
City Economic Updates
The Comptroller’s Office’s Budget Bureau continues to publish periodic fiscal and economic updates for New York City which may be of interest to our readers. The Comptroller has released an informative report that provides a weekly economic and fiscal outlook. The latest edition of New York by the Numbers – Weekly Economic and Fiscal Outlook is now available.
Additional economic information is available in the 3Q20 Quarterly Cash Report and the June 2020 Cash Projection. The Quarterly Cash Report provides a retrospective look at the major cash events during the third quarter of FY 2020 (January 2020 – March 2020), while the Cash Projection details the cash balance projection for the City through September 30, 2020.
U.S. Economy and Congress
Amid reports of an historic drop in US gross domestic product for the second quarter of 2020, all eyes are on Washington, D.C., as federal unemployment insurance benefits for many Americans are set to expire. Among the initiatives of interest to our office is the bipartisan Lifting Our Communities through Advance Liquidity for Infrastructure (LOCAL Infrastructure) Act, which would restore the ability of issuers to advance refund outstanding bonds on a tax-exempt basis.
Looking Ahead
The Comptroller’s Office is actively monitoring markets as well as the various federal actions taken to stabilize the economy. The Comptroller’s Office and the Mayor’s Office of Management and Budget will continue to work to ensure that the City’s financing programs provide adequate capital funding.
With the phased reopening of our City, we remain positive on the progress being made and the precautions our citizens are taking to keep our city healthy.
Marj Henning
Deputy Comptroller for Public Finance
Riverbank State Park Aerial View | Riverbank State Park Website
Built atop the North River Wastewater Treatment Plant 1993, Riverbank State Park boasts an Olympic-size swimming pool, skating rink for both summer and winter skating, an 800-seat culture theater, an athletic complex with 2,500 seat capacity, as well as a 150-seat restaurant – it is New York’s dream place for activity and relaxation.
Located in Upper Manhattan, the park spans 137th Street to 145th Street. During the pandemic, the park remains open for recreation, picnics and dining. The full-service restaurant is currently open for outside dining and takeout. Those who visit the park are using its expansive space for running, eating and enjoying the sun. The plant on which the park sits is an active facility, making the park vital for community health and enjoyment.