BY: SAMANTHA LORISTON
Comptroller Brad Lander expressed frustration with the Fiscal Year 2025 State Budget, criticizing housing policies for not adequately addressing tenant protections, or unsafe basement units.
“A better housing deal was possible: one that built more housing all across the state, genuinely protected tenants from eviction with no good cause, made basement units safe instead of sweeping them under the rug.” Lander said.
New York City’s Fiscal Year budget, at $112 billion, was adopted by the New York City Council and Mayor Eric Adams after a extensive negotiation. The budget includes funding for libraries and early childhood education. However, reversals of earlier cuts were limited.
Lander praised the increase in funding for asylum-seeker services and emphasized the importance of improving the city’s infrastructure. He also called for reforms to streamline capital project processes and stressed the need for better debt management.
The Comptroller’s Office estimates that the City’s costs for asylum seekers in FY 2025 will be $2.11 billion, with the State covering $1.31 billion. Future financial risks remain because there is no guarantee of continued State aid. The City could face an extra $176 million in costs by FY 2026, $1.18 billion in FY 2027, and $2.69 billion in FY 2028. These estimates may change due to evolving federal policies and adjustments in City shelter and procurement methods.
“The State increasing the City’s debt capacity by $14 billion over two years will allow the City to fund its capital needs for schools, transportation, and housing without risking the city’s credit rating.” Lander said.
Lander expressed concerns over how mayoral control of public schools was handled in the budget process.
“Mayoral control of public schools is such an important issue that it should have been considered outside the budget, rather than crammed into the budget at the last minute.”