NEW THIS MORNING

NEW THIS MORNING: * The revised living wage bill in the City Council has been narrowed down to only impact 400 to 500 workers a year, leaving some advocates confused by Speaker Christine Quinn's description of the measure as farthest-reaching in the country, the New York Times reports: http://nyti.ms/IM70VO * A few words in the state budget will allow BlackRock, the world's largest investment manager, to save $5 million by being taxed as a regular corporation and not a bank, the Times Union reports. It is unclear, though, what other firms could take advantage of the budget tweak: http://bit.ly/J3lK1X * Former Gov. George Pataki is forming a Super PAC to help protect vulnerable New York Congressional Republicans and boost his party's chances of retaining control of the U.S. House, the Wall Street Journal says: http://on.wsj.com/HCu7qk * A pair of audits by Comptroller John Liu found that the Bloomberg administration failed to notify homeowners about changes to the way the city assessed values of their condos or co-ops, leading an unexpected spike in property taxes last year, the Times says: http://nyti.ms/HFfmDS * Assemblyman Keith Wright has introduced a bill that would give community education councils the power to block charter school co-locations in public schools, the New York Post reports: http://nyp.st/HvZMpO * Newark Mayor Cory Booker rescued a neighbor from a burning building last night, and then tweeted about it, the Daily News reports: http://nydn.us/HPwwMx * Mayor Michael Bloomberg, a helicopter enthusiast, is on the waiting list to purchase the ultra exclusive AgustaWestland AW609 Tiltrotor hybrid helicopter-plane, costing somewhere between $5 million and $30 million, the Times says: http://nyti.ms/HFpKKb