Bloomberg's Third Term A Boon For Citymaking

"When Mayor Michael Bloomberg announced last week that he would seek a third term if the City Council passed legislation allowing him—and them—to run again, he pegged his change of heart to the city’s dire prospects in the face of the financial crisis. But many New Yorkers have speculated that the mayor had been mulling a third term for some months, particularly as his marquee projects foundered."

"And so, more than it might rescue Wall Street, a third Bloomberg term may instead continue to reshape Main Streets, or more accurately Broadways, citywide. Today, when the council introduces the controversial bill rolling back term limits from two to three, it could lead to the continuation of one of the most urbanistically driven and powerful administrations the city has ever known."