A new report from New York City’s Independent Budget Office says the city has lost nearly $1 billion in property tax revenue because of state exemptions for Madison Square Garden. Also, organizers of the New York Comedy Festival announced an expanded lineup of shows coming this Fall. And finally, WNYC’s Sean Carlson spoke with former New York City Transportation Commissioner Hank Gutman about the city’s approach to fixing a crumbling stretch of the Brooklyn-Queens Expressway.