I just took a look at the building (someone has posted nice photos on Flickr), that's the municipal seal alright, but I don't think/very very strongly doubt that that building ever was a city facility/property - as I think I've mentioned before (on that other thread), other buildings sometimes have it, such as the building I was born in (well, that we lived in at the time).
I know i wasn't going crazy.. I looked up old street car tokens and found the Y
The 3 branches were NEW YORK-BOSTON-and CHICAGO the token was last used in N Y C and was still in use at the time f the N Y Worlds Fair. I'll do a little more research and try to find out more.