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Q&A
Overview of the NYC Seed Fund for neighborhood investments
0:35:05
ยท
153 sec
Council Member Kevin Riley inquires about the NYC Seed Fund, which has replaced the prior administration's NDF fund for planning commitments in neighborhood rezonings. Director Dan Garodnick confirms that there is sufficient funding for current and future rezoning commitments.
- The NYC Seed Fund serves the same purpose as the previous NDF, accompanying rezoning plans with infrastructure investments
- Funding is approved in the ten-year capital strategy and updated throughout the year
- The process involves identifying community needs through various channels, including community boards and council member priorities
- The scale of investments is partly dictated by the scale of zoning changes, recognizing each neighborhood's unique needs
Kevin Riley
0:35:05
Okay.
0:35:05
I'm gonna go to the seed fund for neighborhood investments.
0:35:09
The NYC seed fund has replaced the prior administration NDF fund as a source of funding for some planning commitments for neighborhood rezoning.
0:35:19
Is there sufficient funding set aside for seed commitments for in progress and future neighborhood rezonance?
Dan Garodnick
0:35:25
There is, yes.
Kevin Riley
0:35:27
More generally, can you please tell us how this new tool is funded and how it intends to be functioned?
0:35:33
How is this new fund different from the prior NDF And it seems to be used in the same way by DCP with the Metro North and the AAMUMP neighborhood rezoning.
Dan Garodnick
0:35:44
Yeah.
0:35:45
We call it AIM UP just to make our lives easier.
0:35:47
But yes, we got with you, mister chairman.
0:35:50
So In short yeah.
0:35:54
We have the author of AIM Up at the table, so we gotta get it right.
0:35:58
In short, they serve the same purpose, which is when we're doing a rezoning plan, we must accompany it with infrastructure investment because we're making real changes in neighborhoods in a very positive way, but also zoning is not the entire part of the conversation.
0:36:16
So as you correctly observed, when we did that as part of the Bronx Metro North plan, you know, that resulted in significant funding from everything from parks to schools to other infrastructure.
0:36:30
The funding here is approved in the ten year capital strategy and is part of the ongoing budget updates throughout the year.
0:36:40
The process, the way that we identify these programs is I think really important and is very meaningful to me as a former council member.
0:36:48
We try to figure out what those programs are, what those investments are that are most needed by the community, things that have been initiated or spotted by community boards, capital needs processes through council member priorities.
0:37:07
They are dictated in part by the scale of the zoning change that we are making.
0:37:12
And we are recognizing through this process that each neighborhood has unique needs.
0:37:19
And we want to make sure that we have a thoughtful process with council members and community members to be able to come to good decisions.
0:37:30
And so, it is thematically the same as prior processes, but just done in a different way.
0:37:36
And that's how it is motivated.
Kevin Riley
0:37:38
Thank you.