NEW YORK CITY—Mayor Bill de Blasio Thursday presented New York City's executive budget for fiscal year 2015. Among the focal points of the $74 billion budget are an education program that could benefit the real estate industry, the recently announced affordable housing plan, capital expenditures, safety measures, fines and Hurricane Sandy recovery.
The executive budget invests $20 million in FY 2015—growing to $50 million in later years—to expand programs to help thousands of CUNY community college students more quickly earn their degrees in science, technology, engineering, and mathematics. with additional tuition support, counseling, and even tutoring where needed. These initiatives will impact nearly 5,000 students in the first year of this
The affordable housing plan, unveiled earlier this week, includes $41 billion in capital investment over 10 years to build or preserve 200,000 units of affordable housing. This will create approximately 194,000 construction jobs and 7,100 permanent jobs.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
