06/28/2024 | Press release | Distributed by Public on 06/28/2024 15:04
Over $1 billion added into budget for restorations of library service, cultural institutions, education programs, and parks; advances comprehensive plan and funding to fix early childhood education system; $2 billion to create and preserve more affordable homes
City Hall, NY - Speaker Adrienne Adams, Finance Committee Chair Justin Brannan, and Council Members joined Mayor Eric Adams to announce an agreement on a $112.4 billion budget for Fiscal Year (FY) 2025. Over $1 billion of the Council's priorities were added after the Executive Budget, including full library service, cultural institutions, school and student support programs, and a comprehensive plan to fund and fix the early childhood education system, which would provide seats and vouchers for children currently without them and advance operational solutions to fill thousands of vacant 3-K seats and strengthen the program. The budget also added $2 billion in capital funding over the next two years to support the creation and preservation of more affordable housing units.
The FY 25 budget underscores the Council's commitment to securing key restorations to preserve essential services that New Yorkers rely on and that allow for a safe and healthy City. The Council and the Administration were able to deliver an on-time budget that preserves many critical programs and makes key investments, including replacing hundreds of millions of dollars in expiring federal stimulus funds.
"The Council is proud to reach an agreement with Mayor Adams to restore and secure funding for essential services that are critical for New Yorkers' health, safety, and well-being," said Speaker Adrienne Adams. "These investments in affordable housing and homeownership, early childhood education and CUNY, libraries and cultural institutions, parks and sanitation, senior services and youth programs, mental health, and public safety programs support our residents in every community. Despite the challenges, the Council has never wavered from our commitment to investing in solutions, and we will continue to push the City to meet the scale of our challenges. I thank my colleagues in the Council for our collective work to secure the resources our communities deserve and deliver on the priorities of New Yorkers."
"All throughout this year's budget process, the Council remained laser focused on our shared priorities and our confidence that we had the revenue needed to restore these cuts," said Council Member Justin Brannan, Chair of the Committee on Finance. "So we fought hard with both passion and precision, to secure a budget deal that delivers for hardworking New Yorkers. With all eyes on us, we knew this was the time to invest in the everyday people that drive our city's present and will build our city's future."
"From the very start of negotiations, the needs of New Yorkers and the challenges we are facing as a city has been top of mind for the Council," said Deputy Speaker Diana Ayala. "We aimed to reach a budget that restores the Mayor's cuts and invests in the essential services and supports New Yorkers of all ages need to thrive. From affordable housing and libraries to food pantries and capital funding for NYCHA developments, this budget deal is a testament to the Council's commitment to deliver for New Yorkers."
"New Yorkers deserve a budget that meets not only their immediate needs, but invests in their family's future" said Majority Leader Amanda FarÃas. "After months of difficult negotiations and under the leadership of our Speaker, I can proudly say that this budget does both of those things. The City Council successfully worked together to bridge the gap between the Administration's attempted cuts and the real needs of our neighbors. Our Council stands committed to continuing the everyday fight for good governance and ensuring the initiatives we fought for are felt and seen by our neighbors who need it most."
"Today's deal is the result of months of steadfast advocacy by the Council to protect the City's ability to deliver essential services," said Majority Whip Selvena N. Brooks-Powers. "While the budget does not include every line item we sought, the Council fought successfully for restoration of funding that New Yorkers rely on every day, including for our libraries, schools, and childcare. It also includes a critical expansion of the Fair Fares program - adding over $10 million in baselined funding - and critical funding for a sorely needed Trauma Center in the Rockaways. More work lies ahead, but I am proud of the work of this Council to get us to this point, and I thank the Speaker for her strong leadership and unwavering commitment to the people of New York."
The Council was successful in working with the Administration to secure a balanced FY 25 budget as a result of higher revenue projections and available resources, consistent with the Council's Executive Budget forecast.
Highlights of Council priorities added to the FY 25 budget through negotiations include:
A Strong Foundation for Housing New Yorkers
Investments & Solutions to Fix Early Childhood Education System - $293 million
Schools and Student Support Programs - $400.2 million
City University of New York Programs & System - $64.2 million
Health and Community Safety - $65.1 million
Institutional Pillars of NYC Neighborhoods - $173.8 million
Opportunity Programs and Essential Services - $1.428 billion
"This budget delivers on everything from early childhood education, our libraries, arts and cultural institutions to addressing our city's housing crisis, making investments in mental health programs and expanding Fair Fares so New Yorkers struggling to get by won't need to choose between a MetroCard and a meal," continued Council Member Brannan. "We focused many of our priorities on the multiplier effect: double down on investments in popular programs that are not only good, sound public policy but also make economic sense with an exponentially positive impact.
In this budget, through negotiations with the Mayor, the Council achieved historic baselining funding - meaning next year and a decade from now, future councils and mayors won't have to negotiate over bedrock funding to everything from our libraries and cultural institutions, to housing vouchers, home delivered meals, parks maintenance and early childhood education.
I want to extend my sincere gratitude to this entire Council - from our fearless leader Speaker Adams, members of the Leadership Team and members of the can't stop won't stop Budget Negotiating Team, to all of my colleagues and our outstanding Finance staff, put in truly inspiring work to reach this deal today - a budget worthy of New Yorkers support."
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