Report questions de Blasio’s $1.6B neighborhood fund

Independent Budget Office says lump-sum method hurts transparency

TRD New York /
May.May 21, 2015 02:40 PM

A new report by the Independent Budget Office says that Mayor Bill de Blasio’s plan to create a $1.6 billion fund for neighborhood and infrastructure improvements lacks specifics.

Two of the funds would be controlled by the city’s Economic Development Corporation, while the other would be controlled by the Department of Environmental Protection. But the IBO says that the proposal, which is included in the mayor’s capital spending plan, could limit transparency by providing lump-sums to the agencies without a specific plan for how the money will be used, Capital New York reported.

The aim of the program is to provide support to 15 neighborhoods with major planned rezonings and other neighborhoods that have high infrastructure needs.

“In the past, other city agencies have used lump-sum capital funds to limit transparency and public accountability,” the report states.

A city official said that specifics will come in due time. “These priorities will be driven by community planning and outreach, and it’s neither possible nor appropriate to select specific projects until that process unfolds,” Wiley Norvell, a spokesperson for the mayor, said in a statement. [Capital NY] — Tess Hofmann

Related Articles

When Bill de Blasio announced the end of his campaign, the industry reacted largely with relief but not surprise (Credit: Getty Images and Pixabay)

De Blasio’s campaign is dead, and real estate is happy

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

The blackout impacted a 42-block stretch of Manhattan between the Hudson River and Fifth Avenue (Credit: Getty Images)

Con Ed still searching for answers in Manhattan blackout

Mayor Bill de Blasio and Rikers Island (Credit: Getty Images)

Real estate development not coming to Rikers Island, mayor says

Mayor Bill de Blasio and Frank Carone (Credit: Getty Images)

City tapped De Blasio donor to take over foreclosed properties

NYC is on the hunt for an Amazon replacement in Queens

Bill de Blasio and The Oval Office (Credit: Getty Images)

“It’s gonna suck for us”: Real estate sounds off on de Blasio’s presidential bid

Mayor Bill de Blasio and Commissioner Steven Banks and 127-03 20th Avenue (Credit: Getty Images and Google Maps)

Critics sue to block College Point homeless shelter