Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 749

According to the WSJ , New York City is budgeting to collect $30.8 billion in property taxes for fiscal year 2021. These tax bills will go out on June 1 and payments will start becoming due on July 1, which is the start of the city's fiscal year. Here's how the collections break down across houses, apartments, and commercial properties:

Overall -- and despite the fact that values have softened in the wake of COVID-19 -- this year's property tax budget represents a 5.7% increase over FY2020. The reason for this is that each year the city completes its annual assessments on January 5. And so according to the city's January numbers, everything is just fine.

Supposedly this January 5 date is usually non-negotiable. A lawyer is quoted in the Journal article saying that under normal circumstances, if your house were to burn down on January 6, you would still have to pay all of your taxes for the upcoming fiscal year.

Time will tell if this time is different. But it is interesting, though not surprising, to note just how significant property taxes are to New York City's overall tax collections. They represent a little more half of all taxes collected.

This week, Toronto City Council approved the largest ever one-year expansion of bike lanes in the city -- a total of 40 km. It passed 23 to 2. Here is a map of the approved routes:

The Bloor West extension is being accelerated. This will take the Bloor Bikeway out to Runnymede and High Park in the west (close to our Junction House project ).

New expansions of the network in the core include Bloor Street East, University Avenue, Dundas Street East, and Danforth Avenue (which also happens to connect another one of our development sites on Dawes Road ).

Bloor, University, and Dundas are expected to be among the first installations. The idea here is to have them mirror some of our subway lines and fill the mobility gap as many people shy away from transit in the short-term.

All of this wouldn't have happened without COVID-19, at least not this quickly. I'm certainly not happy about a pandemic, but as a car owner and fair-weather cyclist, I am happy about these new bikeways and I am happy that we were compelled into action.

Sam Altman's recent blog post about how to generate ideas for startups has some invaluable tips that I think apply to much more than just new companies. As a reminder, Sam Altman is an entrepreneur and the former president of Y Combinator . So he's had a fair bit of experience dealing with both startups and new ideas. YC also runs lots of experiments in an effort to get better at funding both great founders and great ideas. And it turns out that being able to generate a lot of new ideas is a critical skill to have when doing a startup. But again, I think you can ignore, for a moment, that Sam is even talking about startups and still find value in his words.

Here's the excerpt that stood out for me:

It’s important to be in the right kind of environment, and around the right kind of people. You want to be around people who have a good feel for the future, will entertain improbable plans, are optimistic, are smart in a creative way, and have a very high idea flux. These sorts of people tend to think without the constraints most people have, not have a lot of filters, and not care too much what other people think.

The best ideas are fragile; most people don’t even start talking about them at all because they sound silly. Perhaps most of all, you want to be around people who don’t make you feel stupid for mentioning a bad idea, and who certainly never feel stupid for doing so themselves.

Stay away from people who are world-weary and belittle your ambitions. Unfortunately, this is most of the world. But they hold on to the past, and you want to live in the future.

Photo by  Fábio Lucas  on  Unsplash