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Council Member Justin Brannan opens Finance Committee meeting and introduces agenda items
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Council Member Justin Brannan, chair of the NYC City Council Finance Committee, opens the meeting and introduces the agenda items for consideration and voting. He outlines several key pieces of legislation, including a budget modification, increases for Business Improvement Districts, and a resolution calling for a National Infrastructure Bank.
- The committee will vote on a budget modification of $255.6 million for FY25
- Two introductions (1090-A and 1098) relate to increasing expenditures for Business Improvement Districts
- Resolution 11 calls on Congress to pass the National Infrastructure Bank Act of 2023
- Five resolutions for real property tax exemptions are also on the agenda
Justin 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.
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I'm council member Justin Brannan.
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I have the privilege of chairing the committee on finance.
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We've been joined this morning by council members Ayala, Moya, Powers, Lewis, Brewer, Farias, Hanks, Hudson, Osei, Stevens, Williams, Salam, and Carr.
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Today, our committee will consider and vote on a number of items, a resolution, prime sponsored by me, to approve a modification of the city's budget pursuant to charter section 107 e.
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This resolution would approve a request from received from the director of the Office of Management and Budget to appropriate new city revenues in fiscal year 25 in the amount of $255,600,000 as reflected in the city's November financial plan.
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The new revenues will be used to pay for childcare providers, tax lien sale outreach, rental assistance, and partially for cash assistance.
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2nd is introduction number 1090 a, Prime sponsored by me.
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It's a local law in relation to authorizing an increase in the amount to be expended annually annually in 9 business improvement districts or bids.
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Introduction number 1098.
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Also, this one's sponsored by council member Powers.
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It's a local law in relation to increasing the amount to be expended annually in the Madison Avenue Business Improvement District and amending the district plan of such district to change the method of assessment upon which the district charge is based.
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Resolution number 11, prime sponsored by my good friend, council member, Crystal Hudson.
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It's a very important resolution calling upon the United States Congress to pass and the president to sign HR 4052, which is the National Infrastructure Bank Act of 2023.
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And then 5 resolutions prime sponsored by me as chair of the committee to approve real property tax exemptions under the private housing finance law in relation to the following projects, 45th Street Partners, The Perennial, Crotona 7, 7073 Loisada HDFC, and 3044 Albany Crescent.