New York, NY —

New York and Denver are neck and neck in competition for the Democratic National Convention, in 2008. But both cities face fund raising challenges, so Democratic party chairman Howard Dean has said he'll hold off announcing the winner until later this month.

REPORTER: Mayor Bloomberg acknowledged that local Democrats are struggling to raise money, but said he would not help with fund raising, as he did for the Republican convention in 2004.

BLOOMBERG: There is no incumbent president, which is always a great advantage when you're trying to raise money. And there are a number of candidates in both parties, a lot of people want to give money to the candidates, rather than the convention.

REPORTER: A spokesperson for the Convention said negotiations with both cities are underway.