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Council Member Brannan opens Finance Committee meeting and introduces items for vote
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Council Member Justin L. Brannan opens the Finance Committee meeting, introduces the committee members present, and outlines the items to be voted on. These items include the council's FY26 operating budget and two resolutions for real property tax exemptions under Article 11 of the Private Housing Finance Law.
- The council's FY26 budget includes $84,700,000 for personal services and $30,300,000 for other than personal services (OTPS).
- Two pre-considered Article 11 resolutions are introduced for 40-year real property tax exemptions for housing developments in Council Members Stevens' and Gutierrez's districts.
- Brannan asks for comments or questions before proceeding to the roll call vote.
Justin L. Brannan
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Thank you, sergeant.
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Okay.
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Good morning, and welcome to today's finance committee meeting, Althea.
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I'm council member Justin Brannen.
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I chair the committee on finance.
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We've been joined this morning by council members Ayala, Moya on Zoom, Powers, Lewis, Farias, Hanks on Zoom, Hudson, Sanchez on Zoom, Stevens, Williams, and Carr.
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I think I got everybody.
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Today, the committee will be voting on the following items, the council's f y twenty six operating budget and two resolutions to approve real property tax exemptions under article 11 of the private house finance law.
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First, the committee is considering resolutions for the purpose of adopting the council's f y twenty six operating budget and accompanying, OTPS schedule.
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The council's f y twenty six budget includes $84,700,000 for personal, for personal services and 30,300,000.0 for other than personal services or OTPS.
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Next, we have a pre considered article 11 resolution that would authorize a full forty year exemption from real property taxes for b a sorry, b f h housing development fund, b r c cluster three in council member Stevens District, consists of three buildings comprising of a 89 rent stabilized units restricted to 60% or below AMI, area media income.
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Finally, we have a preconsider resolution that would authorize a full forty year exemption from real property taxes for the for B and R cluster housing development fund in council member Gutierrez's districts.
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It consists of one building comprised of three rent stabilized units with a target AMI of 60%.
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Before we vote, are there any comments or questions from my colleagues on these items?
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Seeing none, I will now ask Billy Martin to call the roll.