Cities push back against states over budget cuts in tougher times. [WSJ] Op-ed: Madoff exploited religious connections. [WSJ] A source says Gehry layoffs were because Forest City Ratner refused to pay for further Atlantic Yards design revisions. [NYDN] "Yes, the Bowery is booming." [NY Post] Massey Knakal looking for equity partners. [TRD] Apthorp managers file $500 million lawsuit against Apollo ...

10 a.m. Transportation committee meeting on a number of issues, including whether or not cars can park in front of broken or missing parking meters for the maximum time permitted in a given parking zone. Committee chair, John C. Liu, presiding. City Council Chambers, City Hall. 11:45 a.m. to 2 p.m. The Real Estate Board of ...

The Federal Reserve lowers its interest rate from 1.5 to 1 percent. [NY Times] Will Ratner bail on his team and sell the Nets to Russian oil tycoons? [Curbed] 1107 Broadway (a.k.a. the former International Toy Center at Madison Square Park) to get an additional eight stories. Though the addition won’t resemble Eran Chen’s Legos ...