De Blasio, City Council Reach Agreement On $85B Budget

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Mayor de Blasio and the City Council reached a tentative agreement Friday on an $85.2 billion budget for fiscal 2018 — a 3.7 percent increase over the previous year’s adopted budget.

The deal — touted as having been struck at the earliest point of the budget cycle since 1992 — included more than $300 million in new spending since the executive budget was released in May.

Some of the the provisions in the new budget include:

— $30 million to boost support for nonprofit service providers — an allotment that will grow to $104 million by fiscal 2022.

— $10.4 million was added to the budget to expand the free-lunch program in schools — which had been a priority for council members and Public ­Advocate Letitia James.

— $25 million in property-tax exemptions for war veterans — described as personal tax savings of $443 per person per year.

— $6.4 million to continue development of a “Fly Cars” rapid-response system in The Bronx, which places emergency vehicles in high-need locations.

— $20 million was set to provide 6,500 jobs through the city’s Work, Learn and Grow initiative.

— $105.5 million for the construction of school gymnasiums and $110 million for the building and repair of public libraries.

Read more at NY POST.

{Matzav}

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