Expenditure of Payments in Lieu of Taxes (PILOTs) in New York City

March 22, 2005. Testimony by FPI Deputy Director and Chief Economist James Parrott at a hearing of the City Council. This testimony deals with the discovery of the fact that Mayor Bloomberg and several of his predecessors have been spending some PILOT payment revenues without appropriations by the City Council. Related: Mayor Bloomberg’s veto message explaining his June 9, 2005, veto City Council legislation requiring greater accountability in the expenditure of PILOT revenues. Testimony >>

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