Lorissa Camarda

The agenda for the meeting included the Roll Call, approval of the January 28, 2025 minutes, and several resolutions involving grants and loans under various programs. Empire State Development Corporation items involved approving numerous grants totaling $4,653,850 via Regional Economic Development Councils, a $3,000,000 grant via Restore NY Communities, a $1,500,000 grant via the Economic Transformation Program, a $250,000 grant via the Empire State Economic Development Fund, and grants totaling $9,503,939 via the Connectall Municipal Infrastructure Program for high-speed internet expansion. The Dormitory Authority resolutions covered bond issuances up to $2,500,000,000 for refunding Personal Income Tax Revenue Bonds and up to $750,000,000 in commercial paper notes for NYU Langone Hospitals. The Housing Finance Agency resolutions concerned issuing bonds for new construction and rehabilitation of affordable housing across Kings, Albany, Nassau, and Oneida Counties, amendments to the Small Building Partnership Loan Program, and subsidy loans for projects like Palisade Towers and Merriman Avenue. Finally, the New York State Energy Research and Development Authority planned an issuance of Green Revenue Bonds not to exceed $60,000,000 to finance residential clean energy installations.

The meetings covered discussions concerning the HFA's 65th anniversary, the significance of MDE MWBE utilization at 33% overall, and the fiscal health of HFA and Sonyma. The HTFC board addressed several agenda items, including the approval of consolidated minutes, the award of just under $5.5 million in Land Bank Initiative funding across four land banks (Monroe County, Franklin County, Livingston County, and Stuben County), and the approval of a $60,000 award under the Rural Preservation Program to the St. Lawrence County Community Development Program. Further discussions included the reallocation of $1.2 million from the Targeted Home Improvement Program (THIP) among remaining administrators in Binghamton due to an administrator's withdrawal. The board also advanced six New York State Community Development Block Grant (CDBG) economic development award recommendations totaling $1.5 million, which included funds for microenterprise programs and expansion in various counties. Additionally, the board approved increases to two existing CDBG CARES Awardees (Unity House in Troy and the Food Bank of Central New York) to support food and hygiene supplies. The first award under the CDBG Vacant Property Clearance Program, requesting $1 million for the city of Amsterdam for demolition and clearance projects, was also approved. Finally, funding recommendations totaling up to $1.22 million were approved under the New York State Home Buyer Development Program to support home construction for low and moderate-income buyers through Olter County Habitat for Humanity and Stuben County Habitat for Humanity. The Essex County Land Bank Initiative Program was classified as an unlisted action under SEQR.

The regular meeting involved the adoption of minutes from the December 22nd meeting. The agenda focused heavily on approving various grants and financing resolutions stemming from several state entities. Key actions included approving ten grants through the Empire State Development Corporation for regional economic development projects, totaling over $16 million, and approving one grant under the Restore New York Communities Program. Additionally, a resolution for $5 million in regional economic and community assistance funding was approved. A $1 million grant via the New York State Life Science Initiative Fund to New York University was also authorized. Furthermore, three sets of infrastructure grants were approved: three under the Connect All Municipal Infrastructure Program, five under the State Drinking Water Revolving Fund (totaling over $54 million for various municipal upgrades across the state), and a bond issuance resolution for the Dormatory Authority not to exceed $2 billion for new money and refunding projects. Approvals were also granted for State Clean Water and Drinking Water Revolving Funds revenue bonds for the New York City Municipal Water Finance Authority, and a subsidy loan for the rehabilitation of a vacant historic building in Auburn via the Housing Finance Agency.

The regular meeting included the approval of the minutes from the previous January 28th meeting. Key action items involved approving multiple grants via the Regional Economic Development Councils fund through the Empire State Development Corporation, which included funding for various projects such as STEM research labs, brewery expansions, and capital projects across several counties. The Board also approved grants under the Restore New York Communities Program and the Economic Transformation Program. Further approvals included grants from the Empire State Economic Development Fund and the Connect All Municipal Infrastructure Program for expanding high-speed internet and affordable housing initiatives. The Dormitory Authority requested and received approval for a bond issuance not to exceed $2.5 billion for refunding purposes, and also for issuing commercial paper notes for NYU Langone Hospitals. The Housing Finance Agency secured approvals for several bond issuances related to affordable housing, including projects for 729 Van Cinderin, Cahose Portfolio Preservation, Great Neck Senior Housing, Thrive Cornhill, and loans for the BlockbyBlock Home Ownership Program and Affordable Home Ownership Opportunity Program. Finally, the New York State Energy Research and Development Authority received authorization for a $60 million green revenue bond issuance to finance loans for residential clean energy and energy efficiency improvements.

This Executive Budget Financial Plan for the State of New York updates financial projections and reflects proposed amendments for Fiscal Year 2027. It outlines continued investments in key areas such as education, healthcare, mental health, child care, housing, and public safety, while also detailing tax relief measures and support for local governments. The plan aims to ensure balanced General Fund operations in FY 2027 and mitigate future budget gaps, despite facing economic and federal policy uncertainties over the projection period of FY 2026 through FY 2030.