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Scott Stringer: “We have good reserves in the city. $3.2 billion.”

Featuring: Scott Stringer, Democratic | Former Candidate, Mayor of New York City

New York City Retirees' Mayoral Candidate Interview with Scott Stringer

Published March 30, 2025 | Video Starts at 20:02

Did we ever get that money back? Has that money been given back? No, we haven't, not yet. But we do. We need, look, we have, We have good reserves in the city. $3.2 billion. I think it's going to take another billion. But look, that's what budget negotiations between the state and the city are about. (20:02–20:06)

CLAIM

Asserts that New York City has $3.2 billion in reserves.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Scott Stringer

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“Look at what the $80 million grab the Trump administration took from the city budget funds that were already appropriated for critical needs…”
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“I audited 1,000 vacant lots that the city owns.”
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“I saved the city literally $5 billion in debt and debt service of 500 million.”
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“To watch the governor make decisions that resulted in 15,000 seniors, grandparents and grandmas, you know, grandmas and grandpas losing…”
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“I served as clean City Controller, and really being the watchdog for our pension fund for our retirees.”
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“We grew the pension fund during very difficult Covid times to a 9% rate of retirement.”
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“We commissioned a report to do an assessment of the back office of our pension fund and found that there were 200 issues related to the…”
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“I merged the five funds, and I did it strategically in a way that the five funds did not require state legislation or city council…”
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“We were able to create that 9% rate of return because we were nimble in investments and we were able to do things that never were done…”
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“I audited the NYCHA housing 19 times.”
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“We could build the Next Michelle Amit 2.0 on those lots.”
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“In the pension fund, we have a set aside in the pension fund, you know, for economically targeted investments.”
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“When I was comptroller, we did use that money to ensure affordable housing in, you know, in many rent stabilized units.”
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“We worked with the National Union funding mechanism to invest in affordable housing.”
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“The great thing about Mitchell Amma is that it's a fixed percentage of your rent, right? So it's 30% of your rent.”
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“I want to end the luxury development is going to happen in the city, doesn't matter who the mayor is.”
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“Government's job is to think about the people who do not have money, who are poor, who need low income housing, affordable housing.”
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“We should be a sanctuary city. We've always been. And as mayor, I'm going to protect anyone who comes to New York City soil.”
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“I will discontinue this. This will be a dead issue. We will go meet the budget challenges in other ways.”
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“We have a city budget that, if properly managed, will give us the opportunity...to enhance the lives of working people, children, seniors.”
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“New controller audits take 18 months at least.”
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“The controller sets prevailing wage.”
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“We actually used that part of the office to look at wage theft.”
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“We went in, we investigated, we recouped the money.”
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“We returned tremendous amounts of money to people who actually thought they were never going to get the money back.”
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“We've seen what happens when mayors do not have the kind of experience to run a city of 300,000 employees and a $114 billion budget.”
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“Almost a 300 million dollar pension, a billion dollar pension fund.”
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