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Brooklyn finance director: city will avoid small debt issuance for $14M pool project, use onetime revenue and reserves
Summary
Finance director reported $2 million in one-time income and said the city will not issue a planned note for a small remaining balance on the pool renovation project; the tax budget for FY2026 was introduced on first reading and city leaders say property taxes will not increase.
The Brooklyn finance director reported that the city will not issue a planned short-term debt note to cover a small portion of a $14 million pool renovation project, instead using one-time revenue and general fund reserves.
Finance Director Raguse told the council that the cityhad budgeted a $14,000,000 amount for phase one of the pool project and had planned to issue a note of $2,090,000. After the May distributions from the regional tax authority, the city received about $2,000,000…
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