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New York City Council
Executive Budget Hearings - Consumer and Worker Protection
Read summaries and jump into the video at the segment start.
Linda Lee welcomes attendees to the fourth day of FY27 Executive Budget Hearings, introducing the joint hearing on DOT, DCWP, and EDC budgets, and recognizing colleagues and Commissioner Mike Flynn.
Lee outlines DOT's $1.6B FY27 budget, a 5% increase from preliminary, including funding for bus action plan, cycling and micromobility, Staten Island Ferry costs, and headcount shortfalls.
Lee highlights the Council's preliminary budget response identifying $5M in savings from bridge bureau underspending and $179.9M in potential revenue from truck violation enforcement, red light cameras, and parking fines.
Lee outlines her question focus areas including automated enforcement, red light cameras, vacancy reduction, Vision Zero, and franchise revenue, then turns to Chair Abreu for opening remarks.
Shaun Abreu emphasizes transportation as vital for economic growth, public safety, and quality of life, thanking DOT representatives, advocates, and colleagues for engaging on transportation issues.
Abreu details DOT's $1.64B FY27 executive budget and $13.8B capital commitment plan, noting it comprises 11.8% of the city's total capital plan and is 3.7% less than the preliminary plan.
Abreu recounts how the Council pressed for funding on streets plan, public realm programs, pothole repairs, and street light repairs at the preliminary hearing, and notes the executive plan added funding for each.
Abreu calls for focus on accountability, transparency on project timelines and funding decisions, and addresses community concerns about dangerous intersections, traffic congestion, and equitable resource distribution.
Lee announces that public testimony for all executive budget hearings will be on one day, June 10th at 9:30 AM, due to compressed hearing timelines.
Committee counsel swears in Commissioner Flynn, Deputy Commissioner Forgione, Deputy Commissioner Beaton, Assistant Commissioner Rodriguez, and Associate Commissioner Yaroslavsky.
Mike Flynn introduces himself and his team, testifying on behalf of Mayor Mamdani on DOT's FY27 executive budget and FY26-35 capital plan, emphasizing the budget protects daily services during a tough fiscal climate.
Flynn outlines DOT's mission for safe, equitable, sustainable movement, highlighting investments in street safety, roadway conditions, transit accessibility, freight mobility, and public realm improvements.
Flynn emphasizes DOT is moving with urgency under the Mamdani administration, scaling up protected bike lanes, bus lanes, pedestrian spaces, and improving state of good repair across all assets.
Flynn states DOT's FY27 expense budget is $1.6B and FY26-35 capital plan is $33B, providing funding for critical operations that make New York safer and more livable.
Flynn details the bus action plan investment of nearly $17M and 70 positions in FY27 growing to $35M and 104 positions by FY30, plus over $300M for future capital projects.
Flynn highlights $11M and 45 new positions for cycling in FY27 growing to $23M and 54 positions by FY30, plus nearly $100M in capital, and announces construction on McGinnis Boulevard redesign.
Flynn announces $6.4M in baseline investments starting FY27 for open streets, transforming asphalt into opportunity and meeting community demand for safe, lively public spaces.
Flynn discusses commitment to reducing speed limits to 15 mph at eligible school locations, with 8 new positions and $845K to accelerate school slow zone delivery across all 2,300 eligible schools.
Flynn describes the SPEED initiative adding 8 new positions and $1.5M to strengthen DOT's capacity to review projects efficiently, supporting critical housing and infrastructure projects.
Flynn recounts the historic winter's impact on roadways, DOT's aggressive pothole blitz, and $10M in baseline resurfacing plus $3M for emergency response efforts.
Flynn announces a citywide program to replace every first-generation LED streetlight fixture, adding real-time monitoring technology to identify outages and dispatch crews more efficiently.
Flynn reports $6M in FY27 savings from lower AEU contract costs and $3M in annual vacancy reductions, demonstrating DOT's fiscal responsibility while advancing street safety.
Flynn highlights record-breaking MWBE participation with $470M committed in FY26, representing 33% of DOT's contracted spending, building a diverse business ecosystem.
Flynn credits DOT's 6,000 employees and Mayor Mamdani's leadership, pledging to immediately put new funding to use hiring staff, expanding contracts, and scaling up operations.
Lee asks how the $6M FY27 savings from automated enforcement were determined and whether DOT anticipates higher revenue from newer cameras. Forgione explains a new procurement brought down costs through careful negotiation.
Lee asks about safety enhancements in communities with new red light cameras. Forgione reports 450 intersections currently covered, with all 600 to be completed by year's end.
Lee asks about funding for speed camera signage and how DOT decides camera locations. Forgione explains placement is data-driven based on speeds, crashes, and crash nature.
Lee raises concerns about transit desert areas like Southeast Queens having more cameras versus midtown Manhattan, and asks about racial and economic equity in placement decisions.
Lee presses on whether DOT has specifically analyzed racial and economic data. Beaton confirms they reviewed distribution and found cameras are evenly distributed based on city demographics.
Lee asks whether residents are adequately informed about camera programs in multiple languages and for disabilities communities. Forgione describes robust community engagement across multiple channels and languages.
Lee calculates potential $199.7M in additional annual revenue if cameras expanded to 1,325 intersections. Beaton clarifies the state authorization only permits 600 intersections.
Lee asks about proportional revenue from more cameras. Flynn emphasizes zero revenue would indicate success, and the program is about changing driver behavior, not generating revenue.
Lee asks which neighborhoods saw highest camera revenue increases and what the error rate is for violations. Flynn says they don't have that data today but describes a robust review process.
Lee asks about the violation review process and whether cameras have been removed for technical problems. Flynn describes DOT employees reviewing each violation and says no false tickets are issued.
Lee asks how often yellow light timings are reviewed and whether extending duration reduces violations. Forgione explains yellow phase is set as a ratio of speed limit, so it shouldn't be variable.
Lee asks about engineering alternatives besides cameras. Forgione emphasizes a broad toolbox approach including intersection redesigns, speed humps, traffic signals, stop signs, and road diets.
Lee describes the arduous process communities face requesting stop signs and speed bumps, especially around schools. Forgione and Beaton explain the holistic approach to evaluating community requests.
Lee asks whether the SPEED initiative could help with traffic calming processes. Forgione clarifies the 8 new positions are for expediting housing and development project reviews, not general traffic studies.
Lee asks what 49 positions were eliminated and how DOT will carry out functions. Forgione explains the reduction coincides with ending the two-for-one hiring policy, making it a net positive.
Lee asks if the Office of Sustainable Delivery is being eliminated. Forgione confirms the function remains as the Sustainable Delivery Unit, focused on policy and regulatory approaches rather than enforcement.
Lee asks about other savings from reviewing consulting contracts. Flynn says they constantly review contracts for efficiencies, and notes three vendors bid on the enforcement contract with Verra Mobility selected.
Lee asks about using technology differently for operational efficiencies. Forgione emphasizes this is a priority, with staff specifically focused on efficiency and organizational excellence.
Justin Sanchez confronts Beaton about conflicting daylighting cost estimates: $10,000 per intersection versus $3 billion total for 40,000 intersections. Beaton explains the discrepancy is per location versus per intersection with eight potential daylighting spots.
Sanchez cites previous OMB estimates averaging $17,000 per intersection for Intro 1138, far below the $3 billion figure. Flynn and Beaton argue costs don't scale linearly and universal implementation includes more complex sites.
Sanchez compares NYC's estimates to Hoboken's low-cost daylighting interventions starting at $1,500 per intersection and Portland's $700-800 per intersection, arguing NYC's costs are inflated.
Sanchez calls for committing $400M for universal hardened daylighting, praises Commissioner Flynn's commitment, and yields to Councilmember Won for follow-up questions.
Julie Won demands a detailed breakdown of what $10,000 per location covers, expressing frustration with DOT's redefinition of 'location' versus 'intersection' and noting 100 advocates outside calling for daylighting.
Won notes Mayor Mamdani previously stood with her demanding universal daylighting at rallies, and asks how DOT now qualifies which locations are 'daylightable,' questioning the reversal from the mayor's campaign position.
Won asks how DOT evaluates appropriate daylighting locations. Forgione says they focus on where drivers can make legal turns and where daylighting can be most effective for pedestrian visibility.
Sanchez asks how many miles of bus lanes will be built with the $16.9M bus action plan funding. Forgione says exact numbers aren't available yet but expects historic output significantly exceeding prior years.
Sanchez asks for average cost per bus lane mile. Beaton explains costs vary significantly, with red paint at about $4 per square foot, and different lengths and intersection configurations affecting totals.
Sanchez asks about the scope of 70 new positions. Beaton explains the funding includes planners, engineers, concrete workers, signal timing specialists, and outreach staff across the entire program.
Lee asks what percentage of bus funding goes to implementation. Flynn estimates 50-70% goes to actual bus lanes, with the rest supporting related work. Lee also asks about new bus shelters, with 100 planned this year.
Lee asks if DOT will meet the 30-mile bus lane mandate under Local Law 195 and what factors determine BRT implementation. Flynn discusses ridership, bus speeds, and transit-oriented development as key factors.
Lee asks about DOT's BRT approval process and puts on record her support for a BRT system along 125th Street in Harlem, urging DOT to prioritize it.
Lee asks what the $11.2M cycling funding will go toward. Beaton explains it covers planners, outreach specialists, concrete work, and markings program to deliver projects, not just plan them.
Lee asks about average bike lane cost and whether DOT will build 50 miles of protected bike lanes in FY27. Flynn says costs vary widely and they expect substantial increase in output with historic investment.
Lee asks about DOT's World Cup role. Flynn describes two roles: creating celebration opportunities for New Yorkers and traffic management, noting dynamic real-time planning across multiple agencies.
Lee asks about Streetsblog reports of canceled watch parties. Flynn says there was no final set of events scaled down, describing dynamic planning conversations happening in real time.
Won asks whether new dollars have been added for hardened daylighting by the Mamdani administration. Beaton explains the new bus and bike lane funding includes hardened daylighting as part of those projects, though not as a separate line item.
Won asks for specific dollar amounts per fiscal year for hardened daylighting and how many intersections are budgeted. Flynn says they're confident they can exceed prior output but won't commit a specific line item.
Brooks-Powers asks about year-long waits for traffic studies, funding for traffic engineering staff, and why the city relies on federal standards that don't reflect dense urban neighborhoods. She also asks about contractor accountability for defective street restorations.
Flynn addresses federal standards and NACTO partnership. Forgione discusses staffing up for traffic studies and reports 474,000 inspections with 88% compliance rate for permitted street work.
Phil Wong raises a fatal e-bike/scooter collision on Queensborough Bridge involving a device capable of 53 mph, asking what DOT and the Finance Committee can do to enforce speed limits and ban high-speed e-scooters.
Flynn expresses condolences, notes one rider used an illegal stand-up e-scooter capable of over 50 mph, and underscores that highest-speed devices are not appropriate for NYC streets, requiring education and confiscation.
Epstein asks about community board input in street design decisions and requests bus lane expansions in lower Manhattan, including Madison Avenue and the 14A bus.
Epstein requests at least one publicly available EV charging station in lower Manhattan after asking DOT for 10 years. Flynn commits to working with him on finding the best locations.
Restler asks whether DOT has added funding to comply with the local law requiring pedestrian lighting on 300 commercial corridor blocks annually starting January 2027. DOT officials say they're in active coordination with OMB on funding needs.
Restler expresses frustration over 3-4 year waits for lighting needs and asks about average time from traffic light approval to installation. Forgione says about six months, with more contracting capacity coming online.
Brooks-Powers asks about protected bus lane mileage, pothole repairs in Southeast Queens, street lighting outages on Rockaway Beach Boulevard, and dangerous pothole conditions at the Rockaway YMCA entrance.
Flynn expects historic bus lane output. Forgione commits to addressing the YMCA pothole within 24-48 hours, reports 100,000 pothole conditions addressed, and discusses the Rockaway lighting issue involving HPD coordination.
Krishnan asks about open streets funding allocation and raises concerns about mopeds creating dangerous conditions on the 34th Avenue open street, suggesting Northern Boulevard as a solution for class three motor vehicles.
Chris Banks demands action on transferring streets from HPD to DOT jurisdiction in his district, noting years of delays, no alternate side parking, sanitation concerns, and abandoned cars. Forgione reports DDC is fixing streets to meet DOT standards.
Williams asks for camera location data by council district or zip code, noting members feel cameras are disproportionately located in certain communities. She also questions DOT's racial equity plan goals on fine and fee-based programs.
Williams questions why DOT's racial equity plan includes reviewing fine and fee-based programs if previous assessments found no disparities, and asks about transportation equity goals for underserved communities by 2030.
Restler asks about funding timelines for the LIC waterfront esplanade committed under the rezoning, and whether capital plan changes will delay the 2031 completion. Beaton confirms no funding delays and all commitments are moving forward.
Restler asks about funding for lighting studies, public toilets, and pedestrian improvements committed under 1LIC. Beaton confirms all projects are fully funded and moving forward as promised in the points of agreement.
An unknown council member asks whether DOT proactively looks for potholes or relies on 311, and asks about the $326.1M Grand Street Bridge reconstruction timeline. Beaton confirms full funding with construction in FY2029.
An unknown council member asks if the Broadway redesign is fully funded and whether public bathrooms and water fountains will be included. Flynn confirms funding and says EDC will announce a public toilet vendor soon.
Williams asks whether the SPEED initiative will update travel demand data for newly rezoned neighborhoods like Jamaica. Officials confirm they're studying Jamaica separately as part of normal operations.
Williams questions how DOT can achieve 100% infrastructure equity for underserved communities by 2030 when another goal doesn't expect meaningful community relationships until 2036, noting Southeast Queens infrastructure deficits.
Lee asks about the December 2025 deadline for creating off-street tractor-trailer parking, requesting locations, timeline, and cost. Officials report DOT found no suitable land but is setting up metered on-street truck parking in industrial zones.
Lee asks about coordination with NYPD on illegal truck parking enforcement. Officials describe conducting blitzes in complaint areas and working with the Trucking Association to provide information on legal parking.
An unknown council member asks about $453K for Fifth Avenue resurfacing and $6.4M for public realm programs. Officials explain resurfacing is ahead of capital project, and public realm funding is expanding open streets.
An unknown council member raises concerns about increasing streetlight repair times and asks about $1.5M for streetlight maintenance. Forgione explains the funding goes to existing contracts and the aging infrastructure requires capital investment.
An unknown council member asks about additional budget for street light infrastructure. Forgione confirms $331M for LED replacement with real-time monitoring sensors in every streetlight.
Chair Lee concludes the DOT portion and transitions to the Department of Consumer and Worker Protection hearing, with a break for agency changeover.
Lee welcomes attendees to the DCWP hearing, joined by Speaker Menin and Chair Epstein, and introduces Commissioner Sam Levine and his team.
Lee details DCWP's $78.4M FY27 budget, a 5% increase, with 77 new positions in FY27 growing to 181 by FY29. She notes the mayor's pledge to double DCWP's budget and the agency's 19.3% vacancy rate.
Menin emphasizes her deep appreciation for DCWP from her time as commissioner and chair, warns that insufficient funding could hamper enforcement, and announces the Council is requesting an additional $32M for DCWP.
Menin highlights concerns about staffing for laws covering for-hire vehicle deactivation, security guard minimum wages, protected time off, and delivery worker laws, stressing that laws need resources for enforcement.
Epstein thanks leadership and the commissioner, emphasizing the need to ensure DCWP is fully funded to protect workers and consumers, and thanking his committee and finance staff.
Committee counsel swears in Commissioner Levine, Deputy Commissioner Wagoner, Chief of Staff Ortiz, and General Counsel Tiger.
Levine describes DCWP as the nation's leading municipal enforcement agency, highlighting consumer protection law, protected time-off, fair work week, delivery worker laws, and licensing of 45,000 businesses.
Levine details the FY27 executive budget of $78.5M with 409 active and 561 authorized headcount, the highest ever, receiving 181 new lines and $17.9M in personnel services by FY29, calling it the greatest investment in DCWP history.
Levine highlights expanded delivery worker laws, minimum pay rate for grocery delivery, expanded protected time off, upcoming deactivation protections, street vendor licenses, and Chair Epstein's student loan debt legislation.
Levine describes the strongest hotel junk fee prohibition in the US saving $35M annually, a click-to-cancel rule estimated to save $162.5M, and the SHIELD debt collection rule providing the nation's strongest protections.
Levine describes launching a compliance blitz across industries, exposing Uber and DoorDash for deceptive design tricks that reduced worker pay by over $500M, and seeking millions in penalties from predatory businesses.
Levine lists enforcement victories including $5M from delivery apps for minimum pay violations, $1.5M from Dunkin' and Taco Bell for Fair Workweek violations, $875K from Hungry Panda for fee cap violations, and nearly $10M secured in the mayor's first 100 days.
Levine calls this the beginning of a transformative era, thanking Mayor Mamdani, the Speaker, and committee chairs for their advocacy, and pledging to continue delivering economic justice to New Yorkers.
Menin challenges the claim of biggest investment, noting last year's budget was higher. Levine explains the prior year included a $12M summer contract for city residents program being eliminated, with money redirected to enforcement.
Menin asks if the Council's proposed additional $32M would be sufficient. Levine says the executive budget's 181 new positions will meet current needs but welcomes more resources for potential new laws.
Menin asks about compliance rates after DCWP issued warnings to 56,000 employers. Levine and Wagoner explain the goal was education, not investigating all businesses, and that there's no excuse for non-compliance.
Menin asks about outreach to small businesses. Levine and Ortiz describe webinars, DCWP 101 events, VIP inspections, and direct outreach reaching thousands of businesses annually.
Menin questions why only 50 summons were filed from 1,400 FAIR Act complaints. Levine reports updated numbers of 73 summons and $27,000 in penalties, explaining some complaints don't involve actual broker fee charges.
Menin raises concerns about dropping financial counseling success rates from 21.1% to 17.3% and 6% fewer clients served. Levine attributes some decline to shortened measurement timeframe and emphasizes wanting more New Yorkers to use services.
Lee asks about $2M savings from delayed financial literacy expansion. Levine explains the delay was due to background checks for vendors taking longer than expected, with the same end goal of reaching every school district by FY29.
Lee asks about $500K savings from ending the cloud migration project. Levine explains they canceled an expensive contract with CIVIS and are insourcing services with 9 new DOTS division staff for better service at lower cost.
Epstein asks about wait times for workers filing complaints, noting six-month backlogs. Levine and Wagoner say the goal is to reduce the backlog to zero with new staffing, though it may take about a year.
Epstein presses on how many investigators will be hired. Wagoner confirms 10 investigators are being hired now, nearly doubling the current 11, with the civil service exam open through June 23.
Epstein expresses concern that zero backlog may not be achieved soon. Wagoner hopes to achieve it within a year, noting the pace allows proper training and absorption of new staff.
Epstein asks for detailed staffing breakdown. Wagoner confirms 29 new positions for OLPS: 11 lawyers, 10 investigators, 8 data scientists, including supervisory staff. GC gets 20 positions: 17 lawyers and 3 investigators.
Epstein asks how many cases are in court or negotiations. Wagoner says several dozen large class cases are in various stages but promises to follow up with precise numbers.
Epstein asks about funding for organizations like Worker Justice Project to handle deactivation case intake. Levine and Ortiz confirm no direct funding is allocated but emphasize symbiotic partnerships with these organizations.
Epstein pushes for direct agency funding for Street Vendor Project and Worker Justice Project, noting they have more members than resources to handle. Levine acknowledges their vital role but says DCWP doesn't manage those contracts.
Williams asks how DCWP defines equitable enforcement and what metrics determine fair application across communities. Levine emphasizes targeting enforcement where abuses disproportionately affect communities of color and immigrant New Yorkers.
Williams asks whether DCWP has conducted geographical or demographical analysis of where violations, inspections, and enforcement are concentrated, particularly regarding revenue generation across communities. Levine promises to share available data.
Banks asks about DCWP's steps to educate tax preparers and consumers about new itemized fee disclosure requirements under Local Law 168. Levine describes warning blitzes to all licensed tax preparers.
Banks asks about consumer outreach beyond tax season and multilingual educational materials. Ortiz describes updating materials, partnering with community-based organizations, and hitting hundreds of events during tax season.
Banks asks what compliance monitoring looks like and what enforcement tools are available. Levine and Tiger describe sweeps of tax preparers, field enforcement division, and lawyers reviewing complaints to identify targets.
Pierina Sanchez asks about plans for processing 10,500 new general vendor licenses with only 6 new staff. Levine expresses confidence in the efficient licensing division with 4-minute average wait times and 4-day processing.
Sanchez asks how DCWP will prioritize new general vendor licenses. Levine says they'll start with 9,000 people on the existing wait list, then create a new wait list, with rules coming in weeks.
Sanchez asks for a status update on the click-to-cancel rule. Levine says it's currently a proposal, received many comments, and the Roosevelt Institute estimated it could save New Yorkers $160M annually.
Krishnan asks if DCWP has sufficient resources for the for-hire vehicle and delivery worker deactivation laws. Levine expresses confidence, and Wagoner describes rulemaking efforts and staffing plans using investigators and attorneys.
Wong describes a major problem with unlicensed tow trucks using fake plates to extort accident victims in his district. Levine and Tiger describe enforcement actions including a case against Instant Recovery and partnership with NYPD.
Menin asks if DCWP is ready to enforce the Delivery Protection Act, which Levine supports but notes would need 19 additional lines not in the budget. She also asks about expanding fair work week laws to other industries.
Aldebol asks whether DCWP is expanding staffing enough to educate consumers, workers, and businesses. Ortiz describes aiming for 760 outreach events annually, up from 600, with 3 new community affairs positions.
Aldebol asks about outreach for the new security guard wage law taking effect January 1. Levine describes partnering with 32BJ and plans for aggressive enforcement. Ortiz estimates about 70,000 workers in the industry.
Epstein confirms 20 new GC positions (17 lawyers, 3 investigators) and 29 OLPS positions (11 lawyers, 10 investigators, 8 data scientists), asking if this mix is appropriate for handling larger corporate defendants.
Epstein worries about backlogs persisting after hiring, given 10,000 potential Uber/Lyft deactivations, 2,000 new street vendor licenses, and other new laws. Levine acknowledges the challenge of rising complaints but says they've accounted for it.
Epstein asks about Instacart's temporary exemption ending in July 2026. Wagoner confirms they're already monitoring Instacart's wage payments and will require full on-call time payment, with no full exemption granted.
Epstein asks about DCWP's enforcement role with new street vendor licenses. Levine says their role is licensing and education, with DSNY handling sanitation code enforcement. Ortiz notes SBS is revamping educational materials.
Epstein asks about junk fee violations since the executive order. Levine and Tiger describe warning blitzes across employment agencies, used car dealers, immigration services, and hotels, with first hotel junk fee summons coming imminently.
Epstein asks about transitioning services after ending the Summer contract for city residents. Levine describes pushing more New Yorkers into financial empowerment centers, working with EDCAP, and coordinating with DFS for outreach.
Epstein asks about docketing authority success. Wagoner reports a very high collection rate because almost all cases settle with confessions of judgment, and docketing has been used successfully when needed.
Chair Lee concludes the DCWP portion and transitions to the NYC Economic Development Corporation hearing.
Lee welcomes attendees to the EDC hearing, joined by Speaker Menin and Chair Maloney, introducing Interim President and CEO Jeanne Peck and her team.
Lee details EDC's $60.5M FY27 budget, a 97.9% increase driven by $20M for city-backed insurance and $7.1M Cannabis Impact Fund rollover, commending the insurance program for addressing affordable housing barriers.
Menin expresses deep concern about 27,000 jobs lost, asks about EDC's job creation plans, and raises questions about the $70M publicly funded grocery store program's impact on bodegas and small grocery stores.
Menin asks about the $100M city-backed insurance program over three years and its impact on reducing insurance premiums for affordable and rent-stabilized housing.
Maloney highlights the $100M insurance investment, notes the 16.8% decrease in the five-year capital plan, and asks about the $30M for city-backed grocery stores including site selection and operating criteria.
Committee counsel swears in Interim President Jeanne Peck before testimony begins.
Peck describes EDC reimagining economic development to expand the economic pie for all New Yorkers, with a focus on elevating working people historically left behind.
Peck reports labor force participation at all-time high, commercial leases at strongest since 2019, VC investment strongest since 2021, and 2.1 million residents aged 18-34, while acknowledging affordability challenges.
Peck announces La Marqueta in East Harlem as the first NYC groceries site, a 9,000 square foot store opening in 2029, built with community input to offer affordable food to working-class New Yorkers.
Peck announces the second NYC grocery store at the Peninsula in Hunts Point, a 20,000 square foot store opening by end of 2027, plus a new online portal for private property owners to recommend sites.
Peck describes the $4M modular restroom pilot program RFP and EDC's view of housing as essential economic infrastructure, with insurance costs tripling since 2017 driving the need for the city-backed insurance program.
Peck details the insurance program partnering with HTC and HPD, aiming to issue policies for 20,000 units next year and 100,000 by 2030, with expected 5-7x return in city capital subsidy savings.
Peck describes EDC's World Cup role including fan fests, watch parties at public markets, Dress the City campaign, and five borough-wrapped NYC ferries showcasing the city's energy and diversity.
Menin expresses concern about job loss and asks for EDC's plan. Peck cites labor participation highs, commercial lease growth, and VC investment strength, noting NYC added 28,000 jobs year over year.
Menin warns about AI job displacement, media/entertainment losses to other states, and Texas surpassing NYC in financial sector jobs, urging EDC to develop retention plans. Peck describes dedicated business development and innovation teams.
Menin asks how the two grocery sites were selected and how many competing businesses are nearby. Peck explains sites were prioritized based on public ownership, food access metrics, and development readiness.
Menin asks how groceries will be priced and what's in the core basket. Peck explains a third-party operator will run stores normally, with the city covering tenant fit-out, rent, and property tax to subsidize a core basket of fresh foods.
Menin asks about EDC's plans to support pre-existing bodegas. Peck describes outreach to bodega associations, meetings with local owners, and notes the core basket won't overlap with high-profit bodega items like lottery tickets or alcohol.
Menin asks why EDC administers the contract if HPD manages the program. Peck explains the three-way partnership: HPD has housing stock, HTC handles bond finance, and EDC brings transactional expertise.
Menin asks how 20,000 homes by 2027 and 100,000 by 2030 were calculated, and what happens after FY29 funding ends. Peck explains the investment continues as a captive fund and hopes to attract additional investors.
Lee asks about $2.1M savings from terminating a marketing contract. Peck explains they brought expertise in-house using existing marketing and business development teams, with targeted LinkedIn outreach.
Lee asks if EDC tracks small business numbers and analyzes REAP and RACE incentive efficacy. Peck says they track usage and analyze results through their strategy group, offering to share data.
Lee raises concerns about REAP being an as-of-right program that could cost billions for large companies like Amazon. Peck notes EDC provides analysis but doesn't make policy decisions on as-of-right incentives.
Maloney asks about new programs for economic uncertainty and raises concerns about the lack of a permanent EDC president six months after the former CEO's departure. Peck says operations continue uninterrupted under her interim leadership.
Maloney asks about timeline, direction from Deputy Mayor Hsu, and impact on morale. Peck reports no timeline received, works closely with Deputy Mayor Hsu multiple times weekly, and staff remain focused and passionate.
Maloney asks about criteria for selecting homes for city-backed insurance. Peck explains they target the middle 60% of affordable housing stock, avoiding both best performers and worst risks, to avoid taking on extra risk.
Maloney asks how the program reverses cost trends and about city liability for catastrophic events like Hurricane Sandy. Peck says they'll tap the reinsurance market for catastrophic risks and hope to set competitive standards.
Maloney asks why $700M was shifted from the five-year to ten-year capital plan. Peck explains this is a normal OMB exercise to smooth capital costs, with no project delays and flexibility to pull funds forward.
Thomas-Henry asks about $7.1M rollover for the Cannabis Impact Fund and why no loans were distributed this fiscal year. Peck explains the two-phase structure, with phase two expanding to 540 eligible businesses and loans starting fall 2026.
Thomas-Henry asks about RISE program outreach to small businesses in climate-vulnerable neighborhoods and asks Epstein's question about Innovation East. Peck confirms Innovation East is moving forward with no alterations to the plan.
Brewer asks why the city isn't using the existing Milford insurance program and raises concerns about AI training for workers, citing David Greenfield's mandatory Friday AI training program at Met Council.
Brewer raises issues about the John Street lot for South Street Seaport, opposition to Pier 19, and asks why the Bloomingdale Library project can't be 100% affordable housing instead of mixed-income.
Lee asks Palladino's questions about grocery prices, whether name brands will be carried, and product variety. Peck confirms it will operate like a regular grocery store with only the core basket discounted.
Lee asks how prices stay down with name brands and relays concerns from local grocery store operators about competition. Peck explains the subsidy structure of no rent, no property tax, and city-funded fit-out directs savings to core basket.
Maloney questions whether La Marqueta was the best first site, noting multiple full-service supermarkets within one mile. Peck says the site qualified based on DCP's per-capita grocery measure and development readiness.
Maloney asks about alternatives like FRESH, Groceries to Go, and food pantries, and whether the $30M could go further through other avenues. Peck says all programs are complementary, with NYC groceries offering city-controlled subsidies.
Maloney cites examples of public grocery stores operating at deficits nationally and asks about ongoing costs and self-sustainability. Peck says the goal is self-sustaining operations with the subsidy structure, with details to be worked out in the RFP.
Maloney asks what prevents higher-income shoppers from clearing out subsidized groceries. Peck confirms stores are open to all, with the RFP including performance benchmarks for affordability and good-paying jobs.
Maloney cites commissary models costing $1.4B annually with zero revenue and questions the $30M cost for 9,000 square feet at La Marqueta, roughly four times standard NYC retail construction. Peck explains it's ground-up construction under railway on a complex site.
Maloney asks if EDC considered leasing existing grocery stores and how $70M will cover five stores when La Marqueta alone costs $30M. Peck says other sites like Peninsula are tenant fit-outs, and the private site portal is open for Brooklyn, Queens, and Staten Island.
Thomas-Henry asks about ferry pricing during World Cup and whether Willets Point will get ferry service. Peck confirms no price changes, notes the Rockaway Rocket costs more, and says Willets Point is being studied but has no landing currently.
Thomas-Henry asks how fan fest locations were determined and about developing the additional 40 acres at Willets Point. Peck says locations were chosen for maximum benefit and cost, and phase three discussions are open.
Thomas-Henry asks about EDC's process for creating additional public markets. Peck clarifies EDC inherited existing markets and didn't create them, but is open to conversations about exploring options.
Lee asks about differences between public markets operating at a loss and the new grocery stores. Peck explains public markets support small businesses with discounted rent, while grocery stores focus on food affordability through a different model.
Lee asks for details on the $20M already spent and additional $15M for the host committee. Peck explains $20M went to planning, transportation, and logistics, while $15M funds fan fests, marketing, and cultural programming.
Lee asks about $38M for reconstructing the 34th Street ferry landing. Peck confirms it's critical for safety and capacity, with construction staged to minimize disruption and the stop remaining open.
Lee asks about ridership and subsidy trends. Peck reports ridership at near all-time highs despite winter disruptions, with per-passenger subsidy at $8.33, down 30% since the ferry's start, lower than other ferry systems nationwide.
Lee asks about fuel hedging, the $15M operating deficit, and corporate sponsorship efforts. Peck describes a fuel hedging strategy, confirms the ferry is subsidized by EDC rental revenue, and says sponsorship submissions didn't offer sufficient value.
Lee asks for updated figures on NYC's AI readiness and what steps EDC has taken on priorities from the AI Advantage Report. Peck says she'll need to follow up with details.
Restler thanks EDC for helping manage tourism in Dumbo and expresses deep concern about the weak office market in downtown Brooklyn and Dumbo, with buildings 80% vacant, calling for new economic development strategies.
Restler strongly advocates banning non-essential helicopter travel from city helipads, citing extreme noise disruption and pollution equivalent to 40 idling cars. Peck notes EDC is looking at EV tolls as a quieter alternative pending FAA approval.
Lee asks how EDC is incentivizing private owners to submit sites for grocery stores, then raises concerns about multi-year delays in nonprofit capital project funding through EDC, with costs rising while funding stays fixed. Peck acknowledges the burden and commits to working on improvements.