NEW YORK – New York City Mayor Eric Adams today celebrated an on-time, balanced, and fiscally-responsible $112.4 billion Fiscal Year (FY) 2025 Budget that addresses the city’s affordability crisis head-on and invests in the future of the city and the working-class people who make New York the greatest city in the world. The budget specifically invests $58.3 million to fully fund three major library systems — the New York Public Library (NYPL), the Brooklyn Public Library (BPL), and the Queens Public Library (QPL). The investments will allow the libraries to resume Sunday service across all branches that previously offered it and open newly renovated locations across the five boroughs.
On Friday, Mayor Adams and New York City Council Speaker Adrienne Adams also announced that $42.8 baselined will be baselined in budgets in years going forward. Yesterday, the City Council voted to pass the FY25 Budget. Following Friday’s announcement, New Yorkers from across the city, including the heads of the three library systems, praised the FY25 Budget. Thanks to the Adams administration’s ongoing strong fiscal management, which was bolstered by better-than-expected revenue growth, the administration overcame unprecedented challenges in this budget cycle to stabilize the city’s financial outlook and close a $7.1 billion budget gap.
“As a young man who struggled with dyslexia, I understand firsthand how important libraries are for children, families, and every New Yorker in leveling the playing field,” said Mayor Adams. “That’s why we restored more than $58 million in funding to our city's three public library systems and baselined $42.8 million in funding every year moving forward — providing peace of mind to our entire library system. From providing spaces to prepare our young people for a bright future to being a vital partner in the creation of affordable housing, libraries are a lifeline for countless communities. Today, we can all be proud that our city has a budget that invests in our libraries and invests in the future of our city.”
“Making good on our promise to increase affordable housing, support cultural institutions, and invest in libraries, we have funded and restored critical services for New Yorkers thanks to responsible fiscal management,” said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. “The Inwood Library and The Eliza Apartments not only bring a state-of-the-art library facility and affordable housing uptown, but are a model for building co-located housing moving forward. We thank the City Council for their partnership and shared commitment to improving the lives of all New Yorkers through this year’s budget process.”
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