NEW YORK, NY June 11, 2007 —As the City Council works behind close doors to finalize this year's budget even with a multi-billion dollar surplus there will be winners and losers. WNYC Bob Hennelly has more.

This years losers- the City's 1.1 million renters who are not likely to see the $3OO tax credit that City Council Speaker Christine Quinn championed as a way to help ease the City's housing affordability crisis. Quinn will re-visit the tax credit next year which also requires Albany's approval.

Likely winners- homeowners who may see a property tax cut more generous than the 5 percent rollback and $4OO rebate offered by Mayor Bloomberg. Council members say the over $4 billion surplus requires the City do what it can to make up for the 18.5 percent property tax hike in 2OO3.

While the Council goes line by line through the almost 6O billion City budget in conference dozens of lobbyists and activists keep a perpetual vigil in the lobby. Some $3OO million in Council add-ons for groups like Legal Aid are at stake. For WNYC I am Bob Hennelly