News in New York – FY23 Budget, Admin Appointments, and Pride Power 100

Budget

Last Friday, Mayor Eric Adams and Council Speaker Adrienne Adams announced an early agreement for an on-time and balanced City budget for Fiscal Year 2023 (FY23), which will begin, July 1, 2022. The FY23 adopted budget totals $101 billion, approx. $3 billion more than was included in the adopted budget for the current Fiscal Year (FY22). The increase was made possible in large part thanks to better than anticipated tax revenues and continued federal support. Included in this budget is $1.6 billion added to the City’s reserves, a record amount for any adopted budget. $750,000 was also added to the rainy day fund, increasing the rainy day fund to a total of nearly $2 billion.

The FY23 budget represents the first budget for Mayor Adams and Speaker Adams, both of whom are in their first year in their respective positions. This year’s budget negotiations between the Mayor and the Council were largely amicable, and this is the earliest an agreement has been announced in several years. The budget includes a number of new and expanded investments, including funding for public safety measures, increased funding for parks maintenance, and additional support to keep public spaces clean. The budget also includes a baseline contract adjustment for human and legal services providers who were on the front lines of the pandemic, relief to property owners, and an increase in funding to the Cultural Development Fund. In addition, the budget baselined fare fairs which provides metro cards to low income New Yorkers and funding to expand summer youth employment programs by providing 100K slots for this summer. The budget will be voted on and adopted tonight.

Mayor Eric Adams Announces Several Administration Appointments

Last week, Mayor Eric Adams announced several appointment to his Administration. The Mayor appointed Sreoshy Banerjea as Executive Director of the New York City Public Design Commission (PDC). Banerjea is a former Vice President of Urban Design for NYCEDC, where she served for more than six years. Banerjea will replace Keri Butler, who has served at PDC for more than a decade. She will report to will report to Deputy Mayor for Economic and Workforce Development Maria Torres-Springer. Adams also reappointed Annabel Palma as Commissioner and Chair of the New York City Commission on Human Rights (CCHR), where she will continue to lead enforcement of New York City’s human rights laws. Palma will report to Brendan McGuire, Chief Counsel to the Mayor and City Hall.

Rose Christ Named Among City & State New York’s Pride Power 100

Cozen O’Connor is pleased to announce that Rose Christ, Co-Chair of the firm’s NY Public Strategies group, has been selected as a recipient of City & State’s Pride Power 100. This award highlights LGBTQ New Yorkers who serve in local and state government as well as lead the organizations, nonprofits, companies and other institutions shaping the region’s landscape, in the LGBTQ community and beyond. An influential player in the world of lobbying and politics, Christ helps her clients engage with government entities at all levels, most notably in the arts, culture and social services sectors. The former president of the Stonewall Club of NYC was also named to New York City Mayor Eric Adams’ Equity Transition Committee in December.

Lauren Turenchalk to Join Bloomberg Government

Please join us in wishing Legislative Analyst Lauren Turenchalk the best as she departs Cozen O’Connor to join Bloomberg Government in Washington, D.C. this week.