2 | SMART GROWTH FEBRUARY 15, 2016 | VOL. 52, No. 7
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VALET PARKING RETURNS TO DOWNTOWN BY JOHN GOLDEN jgolden@westfairinc.com
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enovations planned by the owner of City Center spurred the White Plains Common Council to approve an ordinance allowing valet parking service in downtown areas by operators granted permits by the city. Properly insured valet operators will be required to provide the service to the general public regardless of their destination. Vehicles will be parked within designated areas of public parking structures. And valet permits will only be granted where the use of public streets does not » WHITE PLAINS, page 6
Valet parking will return to Mamaroneck Avenue at City Center. Photo by Bob Rozycki
Fed rep cites anxiety amid economy’s ‘healthy pace’ BY REECE ALVAREZ ralvarez@westfairinc.com
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oseph Tracy, executive vice president and senior adviser to the president of the Federal Reserve Bank of New York, recently delivered a cautiously optimistic overview of the national eco-
nomic forecast with a particular focus on the New York metropolitan area. “This is a very interesting time for the economy,” he said. “A lot of people are very anxious. I think our best guess is still the U.S. will continue to grow at a healthy pace this year.”
at 0.5 percent, he said. “If you had 1.5 (percent) productivity growth, which is decent, with 2 percent labor supply it is pretty easy to get to 3.5 percent.” he said. “So for us to get to 3.5 percent we are going to have to have a productivity miracle. I’m not saying it can’t happen, but we
During his presentation to state business and government leaders at the Stamford Marriott Hotel and Spa, Tracy focused on the changes in the labor supply since the 1970s, when the supply alone was adding more than 2 percentage points to the national economy’s growth, but now sits
would need a real concerted strategy on how do we get productivity to more than double, otherwise we have to think about can we reverse or offset some of this decline in labor supply, which is really just demographics.” Tracy’s comments coincided » FED, page 6
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