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NYBC Approves de Blasio FY 2015 Budget

NEW YORK CITY—Building Congress president Richard Anderson calls the city's capital budget “realistic; it shows a commitment to the city's core infrastructure.”

By Rayna Katz | Updated on May 23, 2014

NEW YORK CITY—Mayor Bill de Blasio’s fiscal year 2015 capital budget proposes spending $36 billion over the next four years, sending a signal that this administration is making a strong commitment to investment in key areas such as schools, housing, environmental infrastructure and transportation, according to the New York Building Congress.

The Mayor’s budget plan for the next four years includes the following plans: approximately $10 billion in commitments will go to the public school system, evenly divided each year; transportation will see a 40% increase in commitments over recent budgets, receiving $4.7 billion, compared to $3.3 billion in the previous four years, a 40% increase. Much of the new funding will go toward repairing 1000 lane miles of city streets each year; the Mayor’s signature affordable housing initiative significantly boosts the housing budget, with $2.5 billion in commitments over four years, compared to $1.6 billion over the preceding four years; and commitments to parks decline from $2.7 billion to $1.1 billion, tapering off to a marginal $79 million by 2018, the final year of the plan.

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