Mike Bloomberg Given OK to Run for Third Term as Mayor of NYC

Good news for Michael Bloomberg and I’d say NYC.

Yesterday, Bloomberg won a landmark bid allowing him to run for a third term when the City Council – in a tight, 29-22 vote – passed legislation giving all city officials the right to seek a third term, according to reports.

The council agreed to permanently extend term limits to 12 years from eight, arguing the city could not afford to lose Bloomberg during the financial crisis. Twenty-six votes were needed for approval.

“Today, the majority of the City Council decided to give the people of New York a fuller choice in the November 2009 election. I believe that was the right choice,” Bloomberg said.