Richard Ravitch, a vital civic titan, former MTA Chair, and the unwavering Lieutenant Governor of New York State, has passed away at the age of 89.
Best known for his remarkable commitment to public service, Ravitch was a mainstay in the Big Apple’s civic world, making his mark through decades of ceaseless efforts to rescue and revitalize New York City.
Richard Ravitch : A Man of Inventive Solutions and Steadfast Leadership
Richard Ravitch, a businessman by trade, leveraged his private sector acumen to craft inventive solutions to the city’s complex financial challenges.
With a knack for turning fiscal tides, Ravitch helped pull New York City back from the brink of financial collapse in the 1970s and the state’s mass transit system in the 1980s.
As MTA Chair, Ravitch demonstrated his brilliance in navigating financial storms by implementing an ingenious plan of selling MTA buses and train cars to private corporations, who would then lease them back to the city in exchange for tax incentives.
