Yonkers Mayor Mike Spano delivered his fourth State of the City address Wednesday night.

Spano delivered the address from the Yonkers Riverfront Library. During the speech, he updated City Council members and residents about economics, education and safety in the state's fourth-largest city.

Spano said that crime is down 30 percent in the last three years, that more housing is being created and that new jobs and businesses are on the rise. He said that unemployment is down from 9.1 percent three years ago to 6.2 percent.

"We completely overhauled the way City Hall managed its money, installing proper controls, cutting back on waste and implementing a cohesive financial plan," Spano said. "That plan has paid off."

Spano said the proposed budget that he will submit to the City Council in just a few weeks will once again stay within the state's property tax cap for the fourth consecutive year.

When it comes to Yonkers schools, the mayor said students are still being short changed by the state education formula, and vowed to change that.

The city has recently become a destination for Hollywood, with both movies and TV shows filming in the area, according to Spano.