City finance index edged 0

City finance index edged 0.4% higher amid stronger-than-expected apartment construction permits. Urban property developers may benefit from higher rent yields, but bond yields’ climb is a headwind for long-term financing costs. “We're not asking for all the money, but we feel that the urban areas should have more consideration than the rural areas, you know, from a dollar standpoint, because there's just more people," Tamang said. Jeff Czeczok, City Council liaison to the BPU Commission, said he’d like Langel to clarify why the council needs to approve the measure if it’s set by a BPU policy. He also asked whether customer utility rates would need to be increased if the PILOT contribution is increased.The estimated PILOT contribution for 2025 is about $750,950, BPU Finance Manager Danny Loch said. The 2024 contribution was $768,245. The council’s proposal to change the rate to 3% of revenue in 2026, 4% in 2027 and 5% in 2028 would increase the contribution to an estimated $804,000 next year, $1.09 million in 2027 and $1.39 million in 2028. City finance-focused hedge funds increased short positions on transportation service providers as fuel costs reversed downward. These moves signal expectations of margin compression amid tighter competition.