NYC’s fiscal fiasco vexes real estate industry

Back when it was flush with cash, the de Blasio administration heeded developers’ request to add technical staffers at the Department of Buildings. Now with 350 of them — 20 percent more than in 2016 — the agency gets projects approved and onto the tax rolls faster. For the city and real estate industry, it’s a virtuous cycle. But now they face a vicious one. A budget crisis caused by the pandemic — and exacerbated,

source https://therealdeal.com/2020/09/10/nycs-fiscal-fiasco-vexes-real-estate-industry/