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Bill De Blasio
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New York City Public Advocate Bill De Blasio unveiled a plan to urge the $40 billion New York City Employees’ Retirement System (NYCERS) to help create jobs by ramping up its investments in local development, as well as creating an $800 million allocation for local infrastructure, a De Blasio spokesman confirmed. De Blasio is a NYCERS board member.
De Blasio is also calling on the fund to allocate 2%, around $800 million, of its total assets to local infrastructure, which he estimates will create 12,000 jobs for every $1 billion spent, the spokesman confirmed. The Queens Borough and Robert F. Kennedy Bridges are in particular need of repair, rated as structurally deficient by the New York State Department of Transportation in 2010. De ....