NYS Office of the Comptroller DiNapoli: State Pension Fund Valued at $242.3 Billion at End of Third Quarter

 

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $242.3 billion at the end of the third quarter of state fiscal year 2022-23. For the three-month period ending Dec. 31, 2022, Fund investments returned an estimated 4.51%.

“The equity markets had some difficult times in 2022, but the Fund posted positive results for the quarter,” DiNapoli said. “Market volatility may persist in 2023, but the Fund remains well-diversified and built to handle these ups and downs. Our pensioners and members can remain confident that their benefits are safe thanks to our prudent management and long-term perspective.”

The Fund's value reflects retirement and death benefits of $3.794 billion paid out during the quarter.

As of Dec. 31, the Fund had 43.49% of its assets invested in publicly traded equities. The remaining Fund assets by allocation are invested in cash, bonds, and mortgages (22.07%), private equity (14.77%), real estate and real assets (13.43%) and credit, absolute return strategies, and opportunistic alternatives (6.24%).

The Fund’s long-term expected rate of return is 5.9%.

DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency.

Governor Hochul Announces $7.6 Million Available to Support Improvements to Animal Shelters

 

Nearly $30 Million Has Been Dedicated to the Program to Date

Round Five of the Companion Animal Capital Projects Fund Continues Support of Construction, Renovation, and Expansion Projects at Animal Shelters

 Governor Kathy Hochul today announced $7.6 million is available to support animal shelters and humane societies in making critical upgrades at New York's animal shelters. This is the fifth round of funding for New York State's Companion Animal Capital Fund, the first state-funded program in the nation to provide for shelter improvement projects. Funded projects will enhance animal care and help to ensure adoptions for New York's dogs and cats.

"Our Companion Animal Capital Fund has made a real difference to shelters across New York State, and the animals in their care," Governor Hochul said. "I'm proud to announce this latest round of funding, which will continue to build on the great work of this program, and most importantly help our animals stay happy and healthy as they await their forever homes."

Today's announcement brings the total dedicated to the program to more than $27.5 million since 2017. To date under the program, 58 projects have been awarded across the state and 26 projects have been fully completed. In 2022, Governor Hochul included the Companion Animal Capital Fund in her proposed Executive Budget, a first for the program and a demonstration of her continued commitment to New York's companion animals. In the final, Enacted FY 2023 New York State Budget, the program received a historic $8 million for its next round.

Administered by the Department of Agriculture and Markets, the Companion Animal Capital Fund provides matching grants to shelters and humane societies to offset the costs associated with capital projects, such as renovating dog kennels, improving medical facilities, or building more efficient shelters to reduce overall operational costs. Funds are also used to construct, renovate, rehabilitate, or acquire buildings or equipment needed to house, treat, and care for sheltered dogs and cats. The Department selects grant recipients based on a need assessment, detailed project description, and reasonableness of cost.

Two Requests for Proposals (RFPs) have been released through Round 5 of this program:

• RFP 0289:
  • $6.6 million is available to award grants between $50,000 and $500,000 to municipal and incorporated not-for-profit pounds, shelters, and humane societies.
  • Entities that have been awarded funds during previous Companion Animal Capital Fund opportunities are eligible to apply for an award under this RFP. Previously funded projects must be complete before an entity can apply for an award.
• RFP 0290:
• $1 million is available to award grants between $50,000 and $200,000 to pounds, shelters or humane societies that are not operated by or under contract with a municipality but that are registered with the Department.

Former Law Firm Partner Sentenced To Two Years In Prison For Cyberstalking

 

 Damian Williams, the United States Attorney for the Southern District of New York, announced that WILLIE DENNIS was sentenced today by U.S. District Judge Jed S. Rakoff to two years in prison for cyberstalking three victims, all his former colleagues at a global law firm (the “Law Firm”).  DENNIS was convicted in October 2022 following a one-week trial before Judge Rakoff.

U.S. Attorney Damian Williams said: “Willie Dennis, a former law firm partner in Manhattan, waged a relentless cyberstalking campaign against his own former colleagues.  During the years-long, merciless harassment, Dennis’s victims were forced to change their ways of living out of fear that Dennis would make good on his threats.  The sentence imposed today ensures that Dennis’s victims will no longer needlessly endure his attacks.”

According to the Indictment, documents previously filed in the case, and the evidence introduced at trial:

WILLIE DENNIS, a former partner at the Law Firm, engaged in a years-long campaign of harassment, intimidation, and threats against his victims, who were partners at the Law Firm.  As part of that campaign, DENNIS sent the victims thousands of harassing, threatening, and intimidating emails and text messages.  Despite having been warned by the Law Firm over and over again that his communications were unwanted, abusive, and harassing, DENNIS continued to send nonstop messages to his former partners.  He sent the messages at all hours of the day and night.  DENNIS targeted the victims and their families, and he threatened their physical safety.  He demeaned the victims, called some of them by racist and antisemitic names, and warned them that they would become “biblical symbols.”  In his threats, he told one victim to “sleep with one eye open.”

In addition to his prison term, DENNIS, 60, of New York, New York, was sentenced to three years of supervised release. 

Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation.

New York City Banking Commission Announces Measures to Ensure City’s Designated Banks More Accountable to The Public

 

Required certifications will reinforce banks’ obligation to provide details on commitment to combating lending and employment discrimination.

New York City Comptroller Brad Lander, New York City Mayor Eric Adams, and New York City Department of Finance (DOF) Commissioner Preston Niblack today announced two important transparency measures that will help gauge the consumer and community service experience of the city’s designated banks and provide a tool for better assessing the commitment of banks looking to hold city deposits to non-discrimination in lending and employment.

Starting with this year’s biennial designation cycle, the New York City Banking Commission (consisting of Mayor Adams, Comptroller Lander, and DOF Commissioner Niblack) will include a public comment process for the Banking Commission’s public hearing to designate banks that will be eligible to hold deposits of city funds. The public will be able to submit written comments ahead of the meeting and in-person comments during the public comment session of the hearing.

Additionally, the certificates banks must submit ahead of designation have been revised to reinforce the obligation for depository banks to provide detailed plans and specific steps to combat different forms of discrimination in their operations.

“Consumer banks play a vital role in New York City’s communities, and their practices in lending, employment, and banking products and services reverberate through all five boroughs,” said Comptroller Lander. “In pursuit of a shared and prosperous economy for all, the city must be vigilant in evaluating the banks that hold its money and hear from New Yorkers about their experiences with these institutions. I am grateful to Mayor Adams and Commissioner Niblack for their partnership in this work, as we continue to take a hard look at who the city is choosing as banking partners.”

“Financial institutions are critical pillars of our communities, and we must demand the highest standards from any bank that is entrusted with public funds,” said Mayor Adams. “These new steps will ensure the Banking Commission is designating only those banks that have shown that they can protect taxpayer money and that are committed to promoting equity in all aspects of their operations.”

“Providing an opportunity for public comment will add a new dimension to the Banking Commission’s designation review,” said New York City Treasurer Mary Christine Jackman, DOF designee, New York City Banking Commission. “We look forward to hearing from the public and banking community as we review applications for designation for the important role of depository of the public’s funds.”

Designated banks will be eligible to hold New York City deposits. The banks are expected to provide approved banking products and services for city entities. By law, the banks must provide total collateralization for any money held.

“The ability to hold and profit from New Yorker’s hard-earned city deposits is a privilege, not a right,” said Barika X. Williams, executive director, Association for Neighborhood and Housing Development. “We applaud the Banking Commission on taking this step to accept public comments and call on the city to incorporate the findings into their final determinations. We hope this is just a first step in deepening community engagement, scrutiny, and transparency in this public process. The city must demand more of banks seeking the privilege of holding New York City’s deposits and should not do business with banks that ignore, divest, exploit, or discriminate against communities of color.”

Upcoming meetings of the New York City Banking Commission will be held on the following dates: May 11, 2023, for the discount/late payment rate recommendation meeting and May 25, 2023, for the bank designation meeting, including public comments. Bank designations will be voted on by the commission at the latter meeting. More information can be found online.

News, updates and more from NYC Council Member Rafael Salamanca, Jr.

 

COUNCIL MEMBER RAFAEL SALAMANCA, JR. CELEBRATES BLACK HISTORY MONTH

Email Council Member Salamanca

Visit our District Office at:  1070 Southern Boulevard Bronx, New York 10459 (718) 402-6130 salamanca@council.nyc.gov

Bronx Chamber of Commerce - Women of Distinction Luncheon Honors Vivian Vázquez Irizarry

 

Friday, March 31, 2023 11:30am - 2:00pm Villa Barone Manor 737 Throggs Neck Expressway Bronx, New York For 18 years, the Women of Distinction Luncheon has recognized outstanding women leaders for their contributions to the Bronx community. Each year with the support of local Bronx businesses and Bronx Chamber of Commerce members we are able to provide scholarships to deserving college-bound female students through the Bronx Chamber of Commerce Foundation. Join us this year as we honor a new class of scholars and celebrate the strong women leaders of our community.

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An educator and facilitator, Vivian Vázquez Irizarry ran educational and youth leadership development programs at the Coro Foundation, Bronxworks, and is currently the director of community-school partnerships at the New Settlement Community Campus. Vázquez Irizarry managed educational youth development models in GED completion and college access programs across New York City. A former member of the National Congress for Puerto Rican Rights, she is a member of 52 People for Progress, a community organization that saved her childhood playground and revitalized the South Bronx for the last 35 years. In DECADE OF FIRE, Bronx-born Vivian Vázquez Irizarry pursues the truth surrounding the fires – uncovering policies of racism and neglect that still shape our cities, and offering hope to communities on the brink today. Vázquez Irizarry, in her role as the film’s central character and co-director seeks not only healing for her community, but to redeem them from the harmful mythology spread by the media that has continued largely unchallenged to this day. She tells the story of a people who held on, worked to save their community and start anew against impossible odds.

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Pelham Parkway Neighborhood Association Meeting Tuesday February 14 2023.

 

The Pelham Parkway Neighborhood Association is back with their monthly community event on Tuesday February 14th, 2023 at 7pm at our location 2134 Barnes Avenue on the corner of Barnes and Lydig Avenue Bx, NY 10462. Scheduled to appear are Congressman Ritchie Torres and his Team. Ritchie represents New York's 15th Congressional District. Please join us for this very important and informative session.

Wave Hill Events February 23-March 2

 

Hello, March! Spring is in the air! Come explore the garden on a guided walk and take in the sights, smells and colors of the season. In Armor Hall, listen to live cross-genre chamber music performed by Warp Trio. Join the Family Art Project for some creative fun, and create art inspired by nature. Experience something new and special every time you visit Wave Hill!

Family Art Project: Sounds of Winter Stillness 

Sat, Feb 25, 2023, 10AM–1PM 

Sun, Feb 26, 2023, 10AM–1PM 

Free with admission to the grounds  

Meet at Wave Hill House  

Winter is a time of rest for many beings, and a certain kind of magic can be observed in the dormancy, hibernation, and stillness that comes in this season. Document this elusive feeling by creating your own mobiles using an assortment of found and natural objects. 

 

Registration not required.  

 

Questions? Please email us at information@wavehill.org or call 718.549.3200 x251. 

 

The program takes place indoors in the Kerlin Learning Center located on the lower level of Wave Hill House. Please note the following important COVID-related information to ensure everyone’s safety: 

 

• Approximately nine families will be able to participate at a time, based on the time each family arrives. 

• If capacity is full when you arrive, we will provide a “come back” card so you will have first entry for the next session. 

• Each family will receive its own set of materials and cleaning will happen in between seating participants. 

• Unvaccinated visitors are encouraged to wear a mask inside. 

Wave Hill House is located along a paved route with moderate changes in grade. The building is wheelchair-accessible. There is an accessible, ground-level entrance at the front of the building with a power-assist door. The restroom on the ground level is all-gender and ADA-compliant. Additional ADA-compliant restrooms are available on the lower level, which can be accessed by elevator. 

 

Garden and Conservatory Highlights Walks 

Sun, Feb 26, 2023, 2–2:45PM  

Free with admission to the grounds  

Meet at Perkins Visitor Center 

Join a knowledgeable Wave Hill Garden Guide for a leisurely stroll in the gardens. Topics vary by season and the expertise of the Guide–come back for an encore; each walk varies with the Guide leading it. This walk lasts a half-hour to 45 minutes. Severe weather cancels. 

 

Registration is not required for this drop-in event. Public Garden Walks are most appropriate for adults or young adults. Not intended for groups; groups should sign-up for Private Garden Tours. 

 

Questions? Please email us at information@wavehill.org or call 718.549.3200 x251.   

 

Garden Highlights Walks follow a variety of routes along mixed-material pathways and varying elevations. Accessible routes are available as requested; please indicate your need to Wave Hill staff at the Greeter Desk in the Perkins Visitor Center.   

 

Concert: Warp Trio 

Sun, Feb 26, 2–3PM 

$30 Adult/$16 Student (with ID)/$14 Child (8-18), including admission to the grounds. Advance tickets $2 off. Wave Hill Members save 10% 

Armor Hall 

This performance features: 

Mikael Darmanie – piano 

Josh Henderson – violin 

Ju Young Lee – cello 

Rick Martinez – percussion 

 

Warp Trio is an internationally touring, cross-genre chamber music experience. Reflecting the juxtaposition of Juilliard-trained musicians with members steeped in rock and jazz styles, the one-of-a-kind trio—that even has a fourth member!—can be seen performing classical works in prestigious halls on the same tour where they headline a standing room-only show at a rock venue. In addition to their electrifying public performances, they have gained a reputation for their innovative educational workshops for students from grade school through university level. 

 

The concert begins at 2PM and lasts approximately one hour without intermission. Ages 8 and older welcome with an adult. 

 

Tickets required, purchase online or by calling 718.549.3200 x251. 

 

Questions? Please email us at information@wavehill.org or call the telephone number and extension above. 

 

Wave Hill House and Armor Hall are wheelchair-accessible. There is an accessible, ground-level entrance at the front of the building with a power-assist door. The restroom on the ground level is all-gender and ADA-compliant. Additional ADA-compliant restrooms are available on the lower level, which can be accessed by elevator. 

 

HOURS: 10AM–4:30PM, Tuesday–Sunday.

 

Information at 718.549.3200. On the web at wavehill.org.