Lower than a yr after ascending to New York’s highest workplace following the ouster of her predecessor, Andrew Cuomo, Gov. Kathy Hochul is neck-deep in her first state finances negotiations — an annual slog by way of the political swamp of Albany through which a lot is at stake however little is revealed to the general public till a closing deal is reached.
Quite a few actual property points stay unsettled as talks stretch far past the finances’s April 1 deadline, together with a ban on development of gas-powered buildings and a substitute program for the favored property tax break generally known as 421a — two proposals which Hochul has supported.
However with statewide elections simply months away, Hochul enjoys one essential piece of leverage that a lot of her counterparts within the state legislature lack: a snug lead in opinion polls over her possible major opponents.
Just like the contentious proposals for the state finances, whether or not Hochul will wield her newfound political clout to push by way of her priorities stays to be seen. Within the meantime, one in every of her predecessors has some free recommendation to offer.
Former Gov. Eliot Spitzer spoke with The Actual Deal writer Amir Korangy about his time in workplace and his time since then as a tri-state-area actual property developer and steward of his late father’s Manhattan property empire.
The total interview will likely be launched at a later date, however amid the finances talks, TRD is sharing Spitzer’s recommendation for Hochul. Requested by Korangy what counsel he’d supply, Spitzer suggested her to stay to her weapons.
“You’re going to win this election fairly simply,” Spitzer stated. “So it is best to use your political capital to be sensible in the way you spend the state finances and make sensible investments in infrastructure.”
“Housing and transportation critically want funds,” he added, “and NYCHA wants a great deal of consideration.”
For extra on Spitzer’s life after the scandal that introduced down his political profession, learn his 2019 interview from TRD’s “The Closing” collection.