News

NEW YORK—The MTA Capital Plan for 2025-2029 will generate $106 billion in economic activity and more than 70,000 jobs statewide according to a new analysis conducted by EY, and commissioned by the Partnership for New York City.

NEW YORK—Roads and bridges that are deteriorated, congested or lack some desirable safety features cost New York motorists a total of $38 billion statewide annually—$3,492 per driver in the New York-Newark-Jersey City urban area—due to higher vehicle operating costs, traffic crashes and congestion-related delays.

NEW YORK—The congestion zone pricing program is gaining supporters as it removes vehicles, improves travel time and creates new capacity on city roads. Initial signs of success were seen within the first two weeks after the program was switched on. An immediate decrease in traffic volume—up to 43,000 fewer vehicles—was recorded in Manhattan’s central business district.

NEW YORK – Following the initial court victory for New York Attorney General Letitia James and a coalition of 22 attorneys general—who successfully halted implementation of a Trump administration policy that would have blocked many federal agency grants, loans and other financial assistance programs—a new court ruling handed the president his second setback.

There are many ways to manage the contractual risks associated with a construction project. One of these ways is to include a contractual provision shortening the limitations period within which a lawsuit can be started (which is usually six years). In discussing these shortened limitations periods, courts have routinely held that they cannot have run before the claim accrued, and they must be reasonable.

NEW CITY—Four Housing Action Loan Opportunity (HALO) Awards and projects involving up to $13.5 million in loans, were announced on Jan. 31.

WHITE PLAINS, NY–To understand the commercial market in 2025, it’s good to know its modern history. In the 1970 and 1980s it grew and grew to the point of being too hot and then overbuilt. Then the rents suffered because of too much inventory.

The federal budget is a critical tool for governing the United States, outlining how taxpayer money is allocated to support a variety of government functions. However, with the national debt exceeding $30 trillion and annual budget deficits often surpassing a trillion dollars, the need for cuts has become increasingly urgent. Despite this, slashing the federal budget is notoriously difficult. Among the factors contributing to the resistance against cutting government spending are political pressures, societal needs, legal constraints and economic concerns.

NEW YORK—The New York City Department of Environmental Protection announced recently the completion of payments of $165 million in local village, town, city, county and school taxes in 2024 across nine Hudson Valley and Catskill counties covering the water supply system serving half of the state’s population.

NEW YORK—The Gateway Development Commission (GDC) Board of Commissioners awarded on Feb. 3 the contract for the Manhattan Tunnel Project to Frontier-Kemper-Tutor-Perini JV and authorized the notice to proceed with construction. The award the GDC Board approved includes $1.18 billion for the total contract price.