Res 0710-2023

Whereas, The Office of Management and Budget has prepared a Proposed City Fiscal Year 2024 Community Development Program, a Proposed Reallocation of Forty-Ninth Year Community Development Funds, and a Proposed Fiftieth Year Community Development Program; and Whereas, The Proposed City Fiscal Year 2024 Community Development Program, Proposed Reallocation of Forty-Ninth Year Community Development Funds, and Proposed Fiftieth 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 2024 in the amount of $247,826,000, which reflects an increase of $388,000 from the Executive Budget as submitted by the Mayor on April 26, 2023; and be it further Resolved, That the Council of the City of New York hereby agrees to the Proposed Reallocation of Forty-Ninth Year Community Development Funds in the amount of $249,872,000, which reflects an increase of $195,000 from the Proposed Forty-Ninth Year Community Development Budget as submitted by the Mayor on April 26, 2023; and be it further Resolved, That the Council of the City of New York hereby agrees to the Proposed Fiftieth Year Community Development Program in the amount of $234,451,000, which reflects an increase of $14,000 from the Proposed Fiftieth Year Community Development Program as submitted by the Mayor on April 26, 2023; 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 2025 budget adoption, of that portion of the Fiftieth Community Development budget that will be scheduled to be spent in City Fiscal Year 2025 and not City Fiscal Year 2024.