REMARKS
Council Member Brannan introduces Finance Committee meeting and outlines agenda items
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Council Member Justin L. Brannan, chair of the Finance Committee, opens the meeting and provides an overview of the four items to be voted on:
- A property tax exemption resolution
- A transparency resolution
- Two introductions related to Business Improvement Districts (BIDs).
He details the specifics of each item and reminds council members about disclosure requirements for potential conflicts of interest.
- The property tax exemption resolution involves a new 40-year Article 11 exemption for four buildings in Council Member De La Rosa's district.
- The transparency resolution concerns designations and changes in designations for organizations receiving discretionary funding.
- Intro 898 would establish the Cypress Hills Fulton BID, while Intro 906 would expand and rename the Queens Plaza Court Square BID to Long Island City BID.
Justin L. Brannan
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Okay.
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Good morning, and welcome to today's finance committee meeting.
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I'm council member, Justin Brandon, I chair the committee on finance.
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We've been joined this morning by council members, Lewis, Brooks Powers, Dela Rosa, Ayala, Sanchez, wrestler, brewer, Hudson Carr, Williams, Osea, and Fattiest, and on Zoom by council member Stevens and Moia.
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Today, the committee will be voting on 4 items, a property tax exemption resolution, a transparency resolution, intro 898, and intro 0906.
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The first, the property tax exemption resolution is a new 40 year article 11 for 4 buildings and council member Dela Rosa's district.
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As part of the exemption, the buildings will enter into an HPD regulatory agreement, restricting rents, and setting aside 96 units for formally homeless tenants, as well as requiring completion of identified immediate and short term repairs.
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HPDs aging in place initiative upgrades will also be implemented as part of that agreement.
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Next, a transparency resolution, which sets forth the new designation and changes and the days designation of certain organizations receiving local aging and youth discretionary funding and funding pursuant to certain initiatives in the budget.
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As with all transparency resolutions, Council members will have to sign a disclosure form indicating whether or not a conflict exists with any of the groups on the attached list.
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If any council member has a potential conflict of interest with any of the organizations listed, They have the opportunity to disclose the conflict at the time of their vote.
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As a reminder, please disclose any conflicts you may have with proposed subcontractors used by organizations sponsored by discretionary funding.
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These disclosures must be made before the subcontractor can be approved.
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Disclosure forms must be completed and submitted prior to the vote on the transparency resolution and may be emailed to Everton Smith, who is also present with us in the chamber today.
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Finally, both intros on the agenda relate to business improvement districts.
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It's intro 898 sponsored by council member nurse, would establish the Cypress Hills Fulton Business Improvement District with a proposed 1st year budget of $400,000.
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And intro 906 sponsored by Council member Juan would expand the boundaries of the existing Queen's Plaza Court Square Business Improvement District to incorporate 2 sub districts and rename the expanded bid to the Long Island City Business Improvement District.
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The expanded bid would have a proposed 1st year budget of $2,088,978.
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Both bills were heard on June 20th after which they were laid aside for the required 30 day period to allow for any property owner in the proposed extended area to object the bill with the city clerk.
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We've been joined by representatives from the Department of Small Business Services who will testify on the objection period.
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I'll now turn the committee council to swear them in for their brief testimony.