REMARKS
Council Member Justin L. Brannan Opens Finance Committee Meeting on Property Tax and Budget Modifications
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Council Member Justin L. Brannan initiates the finance committee meeting, focusing on property tax resolutions and a budget modification.
- Brannan recognizes the attendance of various council members, including Sanchez, Williams Carr, Hudson, Brewer, Louis, Hanks, Farius Ayala, and Moia via Zoom.
- The agenda encompasses voting on two property tax resolutions and a revenue budget modification.
- Brannan emphasizes the importance of the day’s agenda items in his opening remarks.
- The meeting serves as a platform for discussing significant financial decisions impacting New York City.
Justin L. Brannan
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Thank you, Sarge.
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Good morning.
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Welcome to today's finance committee meeting.
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I'm council member, Justin Brandon.
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I have the privilege of sharing the committee on finance.
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We've been joined this morning by council member of Sanchez.
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Williams Carr, Hudson, Brewer, Louis, Hanks, Farius Ayala and council member, Moia, on Zoom.
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Today, the committee will be voting on the following items, 2 property tax resolutions.
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And a revenue budget modification.
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1st, resolution authorizes a full 40 year article 11 exemption for one building and council member of Sanchez's district.
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Project will consist of 28 rent stabilized units, restricted to between 30 70 percent AMI with up to 8 set of sides for extremely low income and or form formally homeless tenants.
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The second resolution amends a previously approved article five extension and council member of Braze district, the amendment corrects a definition in relation to the payment of real property taxes during the retroactive period.
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Finally, the revenue budget mod would recognize $2,440,000,000 in new revenues, implementing combined changes reflected in the November 23 January 24 financial plans.
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This revenue would be appropriated into 13 units of appropriation within 10 city agencies.
