Reshma Patel

Democratic Candidate for New York City Comptroller

Reshma Patel, a first time political candidate, has a public finance background and promises to ground her work in her technical skills with a lens of equity to all her work. Patel would take a social activist approach to investing pension funds and would evaluate city agencies on their sustainability with regard to the environment.

Qualifications/ Experience

Government (City and State)

  • Patel worked as a public finance expert for New York State and spent much of that time working directly with the City’s Comptroller office.
  • Member of Community Board 6

Financial/ Business/ Compliance

  • Patel is an expert in public finance and has spent 8 years specifically working with the City’s Comptroller office on debt financing and debt management. During this time, she worked on the creation of a new financing authority for the City, the New York City Transitional Finance Authority, which expanded the City’s ability to issue bonds for capital projects. She has worked on over $40 billion of financings for New York City.

Managerial Experience

  • It is unclear if she has held managerial positions.

Track Record of Transparency and Accountability

  • Patel has no public track record related to these issues.

Investment Strategy

Patel would take a social activist approach to investing pension funds.  Specifically Patel would:

  • Divest from fossil fuels.
  • Set aside some investment money to go toward financing local businesses in New York City.
  • Push for more women and people of color on the boards of any company the city invests in.
  • Ask each company in the NYC portfolio to drive sustainability.

Audit Strategy

  • Patel would pursue cost savings through better coordination across agencies.
  • Patel would evaluate agencies on their sustainability plans and their preparedness for meeting the challenge of crises, including environmental crises, as part of audits.
  • Patel would create mechanisms for collecting real-time quantitative and qualitative data to evaluate the public value of each agency.

Miscellaneous Notes

  • Patel is in favor of the city issuing $119 Billion in new bonds to fund the next ten years of capital projects. She also believes the city should refinance its existing debt in this low interest environment.
  • Patel would streamline procurement so local small businesses can register more easily and receive timely payment from the city.
  • Patel is active in the community as a volunteer and leader. Patel is President of the Eleanor Roosevelt Democratic Club and board Co-Chair of Chhaya Community Development Corporation, which serves immigrant communities in Queens.
February 18, 2021

Public Finance Expert Reshma Patel Launches Campaign for New York City Comptroller

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