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Next NYC mayor hires Goldman exec to tackle business breaks

Bill de Blasio
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Bill de Blasio

New York's incoming mayor, Bill de Blasio, hired a Goldman Sachs executive on Monday to shake up business tax incentives that he believes are leaving the city short changed.

De Blasio appointed Alicia Glen deputy mayor for housing and economic development, a role that will oversee plans to build 200,000 affordable housing units and make sure the city gets its money's worth when handing out tax breaks to corporations.

"The days of spending taxpayer dollars to fuel poverty-wage jobs are over,'' de Blasio said in a statement. "We're going to demand living-wage jobs in exchange for public investment.''

De Blasio, the first Democrat to run the city in two decades, takes over on Jan. 1 when current Mayor Michael Bloomberg leaves office after 12 years on the job.

Glen currently leads the Urban Investment Group at Goldman Sachs, a unit that concentrates on "social impact investing'' and has committed $2.7 billion to projects such as affordable housing and renovations of urban areas.

Glen has a background in public service. She was a junior aide to David Dinkins when he was Manhattan borough president and later the mayor of New York. She was also assistant commissioner for housing finance at the New York City Department of Housing Preservation and Development from 1998 to 2002.

—By Reuters

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