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Municipal Assistance Corporation

The Municipal Assistance Corporation is a state entity designed to bring the city out of the 1970's fiscal crisis. MAC has the ability to issue bonds backed by a dedicated portion of the city's sales tax. The proceeds from such bonds are used by the city. MAC refinanced its bonds when the interest rates dropped, but the tax revenue was/is still arriving, so a surplus arose. MAC uses these funds as bait, getting the city to adopt various cost saving measures or invest in particular areas. Over the years, MAC has pushed for funding the Transit Authorities capital program.

Board of Directors

Chair
Edward Regan
Jerome Levy Economic Institute
31 W 52 St 17 fl
NY NY 10019

Fritz Alexander II
Epstein Becker & Green
250 Park Av 13 fl
NY NY 10177

Kenneth Bialkin
Skadden Arps Slate Meagher & Flom
919 3 Av 43 fl
NY NY 10022

Abraham Biderman
Lipper & Company
101 Park Av
NY NY 10178

Alfred Kingon
44 Gramercy Pk N
New York NY 10010

Joel Monty
Monty Construction & Development Corp
700 White Plains Rd
Scarsdale NY 10583

Robert Price
Price Communications Corp
45 Rockefeller Pz
New York NY 10020

Ann Daly Printon
188 E 70 St #18C
NY NY 10021

Thomas Tisch
FLF Associates
667 Madison Av
NY NY 10021

Staff:

Nancy Henze
Executive Director
Municipal Assistance Corporation
25 W 45 St #1406
New York NY 10036
v: 212-840-8255
f: 212-840-8570

 


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Last updated: 14 April 1999