Fiscal Year 2024 Capital Budget Process
The Office is currently accepting Letters of Intent for Fiscal Year 2024.
The Office of the Bronx Borough President is mandated by Sections 211 and 249 of the New York City Charter to receive and disburse a discretionary capital allocation every fiscal year. The amount of funds available to the Borough President is determined by the physical size and population of the borough, as well as the City’s capital budget for that fiscal year.
The Borough President’s discretionary capital funds are not allocated directly from the Borough President’s Office. Instead, any allocation made by the Borough President is placed as a line item in the budget of the appropriate agency’s budget [i.e. any monies for a child care center would fall under the purview of the Administration for Children’s Services (ACS)]. After the city’s budget process is completed, Awardees are notified in writing when the Fiscal Year begins on July 1st.
This memorandum sets forth the mandate that projects meet certifiable sustainability standards to receive Borough President Capital funds. The mandate applies primarily to housing and community facilities. Relevant programs establishing sustainability criteria are: NY State Energy Research & Development Authority (NYSERDA), Enterprise Green Building Criteria, The U.S. Green Building Council’s Leadership in Environmental & Energy Design (LEED) standards and New York City’s Green Building Law. Developers seeking BP capital funds should be required to attain certification under one of the identified programs.
Project design must be independently certified before funds are dispersed.
- LEED rating of silver or higher: LEED | BuildingGreen; USGBC | U.S. Green Building Council
- NYSERDA: New Construction – Housing – NYSERDA; Find a Program – NYSERDA
- Enterprise Green Building Criteria: Enterprise Green Communities Criteria (EGCC) – HPD (nyc.gov)
- New York City Green Building Act standard: Green Building – OEC (nyc.gov)