In a decidedly more diplomatic tone, but laced with deep concerns about New York City's fiscal health, the chairman of the Municipal Assistance Corporation for the City of New York yesterday said the corporation continues to offer billions of dollars to the city, but called for reforms, including a two year freeze on city taxes.

Felix G. Rohatyn, the chairman of the public corporation created to bail out the city during its fiscal crisis in the mid-1970s, also said the corporation could provide the city with $3.6 billion of new money through bond sales if the state approves such a plan.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.