Mayor Bill de Blasio. Image credit: CityLand

$466 million moved back into the 2021 Fiscal Year’s capital budget. On October 22, 2020, Mayor Bill de Blasio announced the acceleration of capital funding within the City’s affordable housing plan by shifting $466 million to the current fiscal year’s capital budget to address urgent affordable housing needs. In March, the City moved $466 million from the Department of Housing Preservation and Developments Fiscal Year 2021 budget to the Fiscal Years 2022 through 2024. However, following the COVID-19 pandemic and the need to support the ongoing recovery efforts, the Department moved these funds back to Fiscal Year 2021. After this shift, the City would have invested $1.4 billion in affordable housing this year. This funding acceleration keeps the Housing New York project on track to create and preserve 300,000 affordable homes by 2026. (read more…)

Image Credit: City Planning

City continues to increase accessibility to information with online capital budget platform. On October 7, 2019, the Department of City Planning announced the launch of the City’s first digital version of the Ten-Year Capital Strategy. Produced with the Mayor’s Office of Management and Budget, the new platform highlights the goals, policies, constraints, assumptions and criteria used to assess the City’s capital needs. The platform also lays out anticipated sources of funding. This interactive version of the plan is intended to make the information more accessible to community boards, policy makers, and the public at large. It utilizes interactive project spotlights, illustrative graphs, maps and pictures to achieve this goal. To view the online platform, click here.

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