City of New York, NY

Battery Park's flood-proofing projects are part of New York City's larger strategy to protect itself from the next big storm.

"An increase in social distancing and remote work has resulted in growing vacant office space since late 2020. Office rents have also trended down and remained depressed into 2022," according to the Popular Annual Financial Report.

Major cities are generally doing well despite economic volatility.

The update noted the growth in the fiscal 2023 budget since its adoption last July was due to the approval of federal grants.

New York City will also release the first quarter update to the fiscal 2023 financial plan this month.

The suit, filed on behalf of community groups and area residents, alleges New York state officials skirted the law when negotiating a deal with developer Vornado Realty Trust in 2018.

The $53 billion Army Corps of Engineers plan is the largest of hundreds of coastal protection projects launched since Superstorm Sandy swamped the area in 2012.

The municipal market was a tale of two halves in fiscal 2022, the report says.

Levels fell back to pre-pandemic levels, state comptroller Thomas DiNapoli said, "so the notion that it's crashing and it's all gloom-and-doom is not a fair observation."

U.S. Treasuries saw more losses and municipal to UST ratios fell on the day's moves with the long bond valuation below 100%.