Statement from NYC Comptroller Lander on FY 2025 State Executive Budget 

New York City Comptroller Brad Lander released the following statement on the FY 2025 New York State Executive Budget, including the housing deal:

“At a time when New York is emerging from the pandemic era and aiming for a more robust recovery, we must do everything in our power to ensure New Yorkers can afford to raise their families for generations to come.

“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 (with an opt-in pilot program), and funded vouchers to get unhoused New Yorkers off the streets, out of the subways, and out of shelter. This housing deal falls short on all those fronts.

“I am pleased that the State meaningfully increased its funding for the City’s services for asylum seekers. It’s critical that the City direct these funds to scale up legal services for asylum applications, work authorization, and job placement services so asylum seekers can get the jobs they need to move out of shelter.

“Investing in our infrastructure is fundamental to New York City’s long-term thriving, and a fiscally healthy approach to municipal debt is necessary to pay for it. 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. Now, the State should adopt the City’s proposals for capital process reforms that will enable City agencies to deliver infrastructure projects more efficiently. At the same time, we urge the Mayor and OMB to adopt our proposal for a stronger debt management policy to make sure debt service remains below 15 percent of tax revenue as we deploy the new borrowing capacity.

“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. The recent dysfunction on the Panel for Education Policy, in which members of the PEP and the public were denied opportunities to speak, demonstrates that New York City needs more thoughtful discussion of municipal governance and democratic participation regarding our public schools.

“My office will be analyzing the details in the days to come, including enforcing wage rules under the housing tax exemption programs and monitoring DOE spending.”

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