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Q&A
Current capital needs for FY '26 and impact of previous budget cuts
0:44:56
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158 sec
Council Member Justin Brannan inquires about the specific capital needs for FY '26 for each library system, and the library representatives provide detailed figures and context.
- New York Public Library reports a need of $262,500,000 for FY '26, part of a larger $485,000,000 ten-year ask.
- Queens Public Library states a general need of $369,058,000.
- Brooklyn Public Library outlines needs totaling $40,250,000, including various upgrades and infrastructure projects.
- The libraries also mention the impact of a capital budget cut from the previous year that was not restored, creating additional financial challenges.
Justin Brannan
0:44:56
We agree.
0:44:57
The cost of doing nothing is very expensive and waiting is equally expensive.
0:45:03
Could each of the systems give us your current capital need for FY '26?
John Hyslop
0:45:20
So
Anthony "Tony" Marx
0:45:29
our 10 ask to OMB is for $485,000,000 for the ten year ask.
0:45:37
That's a hundred 60,000,000 for branch renovations, $200,000,000 for for project shortfalls, as well as 22,300,000.0 for short falls with d d c, EDC portfolio, and a hundred 25,000,000 for technology and security systems upgrades.
Dennis Walcott
0:45:57
Queen's is general need is 369,000,058.
0:46:04
So $3.06 9.58.
Yusef Salaam
0:46:06
Good.
Linda Johnson
0:46:09
In Brooklyn, we have $7,250,000 in DDC shortfalls.
0:46:18
We have a McKinley Park branch overhaul that will cost we think $25,000,000, tech upgrades and network upgrades of $3,000,000, and system wide critical infrastructure for $5,000,000 for a total of $40,250,000.
0:46:38
We have 39 active DDC capital projects and are facing $8,400,000 in current shortfalls.
0:46:49
So we can actually submit all of this if we haven't already so that you have it in spreadsheet form.
Dennis Walcott
0:46:57
Also chair, just to remind you, last year the three systems were hit with a capital peg that was never restored either.
0:47:06
And so we started with a hole based on the capital peg that was not part of the restoration.
0:47:13
And for Queens, that was roughly 32,200,000.0 of the capital pay in fiscal year twenty four.
Anthony "Tony" Marx
0:47:22
Mister Chink, can I just I I gave you a ten year number?
0:47:26
The fiscal year twenty twenty ask for New York Public Library based on the numbers I gave you is 262,500,000.0.