City: Stimulus Will Bring Up to $544 M. Direct for Capital Projects

With the federal stimulus package signed, the Bloomberg administration has done some tallying. The total to be infused for city-run capital infrastructure projects, according to a City Hall memo issued today: $544 million.

Per the memo, that money comes from two separate pots—$311 million for water and sewer projects, which the city must apply for through the state, and $233 million for transportation projects.

Also coming to the city courtesy of the stimulus, though not included in that $544 million number, is an estimated $390 million for repairs and renovations for public housing at the New York City Housing Authority, $142 million for other housing programs, and $140 million for energy efficiency.

Unlike the state government and the M.T.A., the city yet to release lists of projects that would qualify as “shovel-ready,” and which would therefore be eligible for stimulus funding. The memo says that such a list will be released in the coming weeks.

The new money comes as the Bloomberg administration has proposed a 30 percent cut in its five-year capital plan, which funds billions in infrastructure and economic development projects. That comes on top of a move last year to stretch out the plan from four years to five, effectively cutting spending by 20 percent.

 

City Stimulus Analysis