From the Daily News:
Lulu is the nickname for the stipend City Council members get for heading committees and subcommittees or holding leadership positions. It comes from payment en lieu of expenses.
Lulu's visit was prompted by the departure Dec. 31 of three City Council members who were elected to other offices. Each left behind a committee chairmanship carrying a $10,000 lulu. That triggered the musical chairs.
Council Speaker Christine Quinn, with the consent of her 51-member body, filled the three vacancies last week with members who had been heading other committees.
That, in turn, created three new vacant chairs, which were promptly filled by elevating three other members who were among the few that didn't have a chairmanship or lulu.