Res 0774-2015

By Council Member Ferreras-Copeland Whereas, The Office of Management and Budget has prepared a Proposed City Fiscal Year 2016 Community Development Program, a Proposed Reallocation of Forty-First Year Community Development Funds, and a Proposed Forty-Second Year Community Development Program; and Whereas, The Proposed City Fiscal Year 2016 Community Development Program, Proposed Reallocation of Forty-First Year Community Development Funds and Proposed Forty-Second Year Community Development Program are provided to the City Council for review and consideration; and Resolved, That the Council of the City of New York hereby agrees to the Proposed Community Development Program for City Fiscal Year 2016 in the amount of $224,863,000, which reflects an increase of $1,824,000 over the Executive Budget as submitted by the Mayor on May 7, 2015; and be it further Resolved, That the Council of the City of New York hereby agrees to the Proposed Reallocation of Forty-First Year Community Development Funds in the amount of $222,879,000, which reflects an increase of $1,824,000 over the Proposed Forty-First Year Community Development Budget as submitted by the Mayor on May 7, 2015; and be it further Resolved, That the Council of the City of New York hereby agrees to the Proposed Forty-Second Year Community Development Program as submitted by the Mayor on May 7, 2015, in the amount of $223,039,000; and be it further Resolved, That the Council of the City of New York hereby shall have the opportunity to review the allocation as part of the City Fiscal Year 2016 budget adoption, of that portion of the Forty-First Community Development budget that will be scheduled to be spent in City Fiscal Year 2017 and not City Fiscal Year 2016. TE6-23-15 LS 5553