For you can everybody settle
down and find a seat everybody
a seat good morning and
welcome to new york city york
city council of the committee
on finance at this time can
everybody please silence your
cell phones and no one is t
oapproach the dais chair we are
ready to begin thank you
sergeant okay good morning
good afternoon everybody
welcome to today's meeting of
the committee on finance I'm
councilmember brannon I have
the honor of serving as chair
of this committee before we
begin I want to note today's
meeting marks my final time
chairing the finance committee
over the past four years it
has been a privilege to help
lead this committee through
some of the most consequential
and challenging budget years
in our cities history from
navigating the uncertainty of
the pandemic recovery t
ofighting to protect essential
services to insisting on
transparency and fairness and
how the city raises and spends
our public dollars this
committee has done serious
meaningful work on behalf of
all new yorkers and none of
that happens without an
extraordinary team so I want
to take a second to thank the
mighty finance committee the
council central staff our
speaker our agency partners
for their professionalism and
expertise and tireless
commitment over these past
four years of course want t
othank my colleagues on this
committee for their
collaboration their rigor
their shared belief that
budgets are not just
spreadsheets but moral
documents that reflect our
values and our priorities as a
city we have a full and
important agenda today with
legislation that goes directly
to the core of what new york
er's expect from their
government fairness
accountability and investment
in strong livable
neighborhoods today's item
address how we manage vacant
and distressed properties how
we use and oversee the city's
tax lien tools and how he
strengthen transparency so
communities are not left in
the dark and how we support
affordable housing small
businesses and local economic
growth across our city among
the bills before us today our
legislation to lay the
groundwork for a new york city
land bank giving the city
better tools to take neglected
and tax delinquent properties
and put them back t
oproductive use for the public
good we're also voting on a
package of tax lien reforms
that respond directly to the
work of the council's
temporary task force tax lien
task force which measures and
priorities that prioritize
notice oversight and
accountability especially for
homeowners and condo residents
who deserve clarity and
fairness when leans are sold
and we're also considering
legislation that supports
transparency in the budget
process itself ensuring
deadlines reflect the
realities of mayoral election
years while preserving the
council ability to do our job
thoroughly and responsibly and
finally we're advancing
investments that help keep new
york er's right where they
live approving affordable
housing tax exemptions that
will create and preserve homes
and communities across the
city modifying the budgets t
oresponsibly reflect new
revenues and establishing the
coney island business
oand stronger small businesses
and one of new york city's
most iconic neighborhoods
taken together today's agenda
reflects the work that this
committee has focused on over
the past four years protecting
taxpayers strengthening
neighborhoods and making sure
city policy works for the
people it's supposed to serve
so with that we'll proceed
with today's agenda today the
committee will vote on the
following items propose intro
number 5 70 be sponsored by
councilmember brewer it would
subject to the approval of the
new york state urban
development corporation t
oestablish a land bank for new
york city with powers under
state law relating to the
acquisition warehousing and
transfer of real property t
oimprove local management of
vacant abandoned tax
delinquent and tax foreclosed
properties I want to invite
council member for remarks on
her bill.
>>thank you very much and
cheer brennan you have done a
great job even when you're on
social media you know what the
hell is going on.
>>and it's impressive it's
very impressive and thank you
for your leadership and all
things finance which is the
heart and soul of the city
council.
>>so intro 570 would establish
as you heard the new york city
land bank to help our city
address and ameliorate the
problems related to vacant
abandoned and taxed delinquent
properties land banks which
exist in other parts of the
state and the country are
empowered to purchase tax
lanes and to enforce them.
>>unlike the current tax lien
system where properties go t
othe highest bidder regardless
of intended use this bill
would establish a hierarchical
ranking of priorities for the
use of real property upon
disposal by the land bank one
it would be a use that would
result in the creation or
preservation of affordable
housing.
>>to a youth related t
oindustrial manufacturing or
maritime three as a fresh food
store for as a public space or
place and five is a wildlife
conservation area I know that
this administration
particularly my friend
commissioner of finance is
concerned that they will lose
revenue but to be clear the
prompt resolution of unpaid
city taxes and timely
collection of city taxes
remains essential and I feel
strongly that this bill does
not slack on collecting city
taxes that are old most
importantly is to thank the
absolutely amazing
.>>and nick connell hundreds of
hours on this bill and got it
right and I can totally
.>>collaborated with the and usm
goldsmith from my office.
>>and also council member
sandy nurse who helped all of
these bills get through thank
you very much
.>>thank you council member
just to note we've been joined
by council members brewer
obviously lewis carr powers
william stevens deputy speaker
ayala hudson jose juan salam
sanchez majority leader fahri
ous and majority whip brooks
powers I'm going to read
through the rest of these
bills and then members if they
want to make statements they
can do so after because we've
got a bunch of stuff here a
proposed intro 14 7 a
sponsored by speaker adams
would amend section elevent
h11 2 3 20 of the
administrative code
authorizing the commissioner
of finance to sell tax leans
in their discretion through
december 31 2028 intro 14 11
also sponsored by council
member would implement a
recommendation of the
temporary task force on tax
leans to require the
commissioner of finance t
onotify the board of managers
of a condo if the commissioner
intends to sell a tax lien
that encumber h's a unit
within the condo intro 14 19 a
sponsored by council member
nurse would implement
recommendations of the
temporary task force on tax
lanes to require the
commissioner of finance t
osubmit to the council and post
online an annual report on
properties encumbered by tax
lanes that remain unsatisfied
for 36 months or more after
being sold including weather
inspections by resulted in
violations intro 14 20 a also
sponsored by council member
nurse would require the
commissioner of finance to
require a purchasers of tax
liens to make best efforts to
transfer such lanes to a city
land bank if established upon
certain triggering events
intro 14 20 27 sponsored by me
would establish the coney
island business improvement
district ah a bill sponsored
as well by me would
permanently extend the
deadline for submission of the
pmr in years following the
election of a mayor ah
consistent with the adoption
of the ballot proposal of the
mayor's 20 24 charter revision
commission which extends the
deadline for submission of
their preliminary budget in
those years the bill would
also extend other preliminary
budget deadlines pertaining t
othe preparation of the 2
7budget a pre considered
resolution pre considered yeah y
resolution approving new
designations and changes in
designations of certain
organizations set to receive
funding in the expense budget
for 26 a resolution sponsored
by me to approve a
modification of the city's
budget pursuant to charter
section 107 e approving a new
request received from the
director of to appropriate new
city revenues and 26 in the
amount of $512.1 million and
finally eight preconceived
erred resolutions all
sponsored by me approving real
property tax exemptions under
article 11 and article five o
fthe private housing finance
law for the private following
projects projects addresses 20
29 23 street and council
member of villas district the
tyson apartments and
councilmember cars district
thousand 16 990702700 an
dunion street and council
member hudson's district
longfellow and cluster phase
two and council member
salamanca's district
settlement cluster three and
council member stevens and
salamanca's district and
finally malcolm x to phase b
and council member salam's
district before we proceed
with with statements from my
colleagues I just want to make
a brief statement in support
of intro 427 which would
establish the coney island
business improvement district
coney island is home to more
than 350 businesses and
roughly 50000 residents it
welcomes millions of visitors
every year it's a place known
around the world but it's also
a real neighborhood with
workers families and small
business owners who are there
year round not just in the
summer when the weather is
nice for a long time local
merchants community leaders
and institutions have been
asking for a tool that helps
match coney island's global
reputation with everyday
investment in the basics
cleaner streets coordinated
public safety stronger support
for our small businesses and
smarter year round marketing
creates a locally governed
framework with dedicated
sustainable funding to support
enhanced sanitation and
beautification campaigns small
business services and a place
based economic development so
that coney island looks and
feels cared for every day of
the year this effort builds on
more then a decade of
collaboration led by the
alliance for kony island and
reflects broad support from
small businesses cultural
institutions and community
stakeholders across the board
I want to thank all of them
for their persistence and
partnership and getting us t
othis point and I'm very proud
to be here to get this done
coney island is the people's
playground the bid is about
pride stability and making
sure this iconic neighborhood
continues to thrive for
residents workers and visitors
alike for generations to come
I now want to ask is there are
any of my colleagues who have
statements regarding any of
their bills before we hear
testimony no okay well now
hear testimony from the
department of small business
services on the coney island
bid intro 14 27 we're joined
by deputy commissioner calvin
brown I'm now going to turn it
over to my committee counsel
brian sarfu to swear in
commissioner brown good
afternoon commissioner do you
.>>swear to tell the truth
among.
>>do you swear to tell the
tell nothing but the truth
before this committee of
council members I do you begin e
finance committee I'm calvin t y
commissioner for neighborhood
development at the department
of small business services I'm
joined by my colleague leslie
velasquez the director of bid
development and legislation
today we would like to report
on the results of the
objection file with the city
clerk against I mean against
the establishment of the
proposed coney island business
improvement district as
required by lore the coney
island steering committee
mailed the survey summary of
the city council resolution to
the following parties to each
owner of real property within
the proposed district at the
address shown on the latest
city assessment role to such
other persons as our
registered to the city t
oreceive tax bills concerning
the real property within the
district and to tenants of
each building within the
proposed district furthermore
the coney island bid staring
committee arranged for the
publication of a copy of the
summary of the resolution at
least once in local newspapers
at the conclusion of the
objection period at five p m
on december 12 2025 and taken
into consideration any
objections postmarked by that
date we're happy to report
that there were no objections
that were filed with the city
clerk for properties within
the district the department of
small business services
supports the establishment of
the proposed coney island bed
and hope you vote to approve
it today at this time take any
questions thank you okay well
now here testimony from any
other registered witnesses who
wish to testify on any of
today's legislation okay
seeing none we will now ask
billy martin there you are the
committee clerk to call the
roll
.>>thank you good afternoon
mister chair it's been an
honor thank you for your kind
of for the past few years here
we go william martin committee
clerk roll call vote committee
on finance all items are
coupled chair brennan farias.
>>ayala I okay we'll come back s
chair years here in council in
the floor as the chair of the
finance committee and all your
river thank you louis
.>>just want to congratulate
iron oreennan
.>>brewer
.>>I won't I and I just want t
osay that emory out of is a
rock
.>>star thank you hanks hudson
um imara is a rock star and is
also my constituent and
congratulations to chair
brennan for an amazing fou
ryears running this.
>>committee and I and all o
hsay we have had so much fun on
this committee over the past
four years and I want to thank
chair brennan for being the
leader of that fund I vote aye s
powers I will I on all and
just want to also thank
council member brandon an
amazing four years of
excitement on the committee on
finance sanchez I vote aye on
all and I am going to miss my
big brother next to us at the
dais but I know that you're
going to continue to do
incredible things for our city I
on all and I'm honored that I
was able to have a rock star
rock the finance committee for
the last four years and we're
going to miss you you williams
finished here as I you'll be
missed one
.>>I vote aye and thank you
chair brannon for the hundreds
of hours that you spent
chairing this committee for
the last four years thank you
salaam fort I own all and as
I've learned to say in the
council I like my eye to the
associated with all of the
great remarks to our chair
brannon thank you moya
councilmember carr.
>>thank you I just want t
ocongratulate the chair on his
successful chairmanship of
this committee and in
particular his partnership on
the cold war veterans.
>>and an interest rate reform.
>>a wonderful initiatives we
were able to work on together
and I also want to thank all
the finance staff for the
great work that they do.
>>each and every year during
budget off budget they are a
phenomenal team thank you for
everything and with that said
14 20 a as well as preions
considered resolution 186
which is the transparency
resolution and I on the rest
thank you all items have been
adopted with a vote of 15 I
nthe affirmative zero on the
negative into abstentions with
the exceptions of introduction
hundred 70 a thousand hundre
d70 14 a all right and pre
considered resolution and
organizational zx have been
adopted with 14 with 14 in the
affirmative one in the
negative no abstentions chair
thank you billy all right for
the last time this committee
is adjourned thank