Summary
NYC Committee on Finance Approves Multiple Resolutions on Business Improvement Districts and Tax Matters
New YorkOct 29, 20255 min read
At a glance
Quick context to catch up fast.
The Committee on Finance held a meeting on October 29, 2025, to consider resolutions related to business improvement districts, real property tax assessments, and housing preservation projects. The committee approved resolutions concerning expenditure increases for business improvement districts, the establishment of the Coney Island Business Improvement District, amendments to the Lincoln Square Business Improvement District, fiscal year 2026 tax certifications, and three housing preservation land use applications.
Committees mentioned
Open the committee coverage hubs tied to this summary.
Topics discussed
Housing PreservationConey Island BID EstablishmentReal Property Tax AssessmentLincoln Square BID AmendmentBudget & TaxTax CertificationsCommerceFiscal Year 2026 BudgetHousingBusiness Improvement Districts
Was this summary helpful?
Your feedback helps us prioritize what to improve next.
Key decisions
Follow the major takeaways from this briefing.
- Approved Resolution 1100-2025 to designate new organizations and modify existing designations to receive funding in the Expense Budget (11-1 vote with 5 absent)
- Approved Resolution 1101-2025 to establish the Coney Island Business Improvement District in Brooklyn (12-0 vote with 5 absent)
- Approved Resolution 1106-2025 to amend the Lincoln Square Business Improvement District plan to change assessment methods and authorize additional services (12-0 vote with 5 absent)
- Approved Resolution 1102-2025 to determine a one percent increase in the current base proportion of real property classes for Fiscal 2026 (12-0 vote with 5 absent)
- Approved Resolution 1103-2025 and Resolution 1104-2025 to compute and certify base percentages and adjusted base proportions for Fiscal 2026 (12-0 votes with 5 absent each)
- Approved Resolution 1105-2025 to amend and restate the resolution providing amounts for city government support and payment of indebtedness for Fiscal Year 2026 (12-0 vote with 5 absent)
- Approved Land Use Application LU 0411-2025 for Charles Hill housing project at Block 1827, Lot 1, Manhattan (12-0 vote with 5 absent)
- Approved Land Use Application LU 0412-2025 for Seneca Open Door housing project at Block 1594, Lot 17, Manhattan (12-0 vote with 5 absent)
- Approved Land Use Application LU 0413-2025 for State Preservation housing project at multiple blocks in Queens (12-0 vote with 5 absent)
Timeline & follow-ups
Action items flagged by the community.
No follow-ups have been shared yet. Add one in the community board below.
Meeting information
Details and records from this meeting.
Committee on Finance
Oct 29, 2025, 12:00 AMCommittee Room - City Hallscheduled
Agenda
- Resolution approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget
- Charles Hill: Block 1827, Lot 1, Manhattan, Community District No. 10, Council District No. 9.
- Seneca Open Door: Block 1594, Lot 17, Manhattan, Community District No. 10, Council District No. 9.
- State Preservation: Block 2090, Lot 26; Block 3084, Lot 20; Block 3085, Lot 8; Block 3087, Lot 7; Block 3097, Lot 38; Block 3164, Lot 54; Block 9245, Lot 300; Block 9621, Lot 1; Block 9631, Lot 227, Queens, Community Districts No. 6 and 9, Council District No. 29 and 30.
- Resolution concerning the establishment of the Coney Island Business Improvement District in the Borough of Brooklyn and setting the date, time and place for the public hearing to hear all persons interested in the establishment of such district.
- Resolution concerning authorizing an increase in the amount to be expended annually in seven business improvement districts and one special assessment district, and the setting of the date, time and place for the hearing of the local law increasing the annual expenditure for such districts.
- Resolution concerning an amendment to the district plan of the Lincoln Square Business Improvement District to change the method of assessment upon which the district charge is based and authorize additional services for the district, and setting the date, time and place for the public hearing of the local law authorizing such changes
- Resolution to determine a one percent increase of the current base proportion of any class of real property over the adjusted base proportion of the immediately preceding year for purposes of determining the current base proportion for Fiscal 2026
- Resolution to amend and restate the resolution computing and certifying base percentage, current percentage, and current base proportion of each class of real property for Fiscal 2026 to the State Board of Real Property Tax Services pursuant to Section 1803-a of the Real Property Tax Law
- Resolution to amend and restate the resolution computing and certifying adjusted base proportion of each class of real property for Fiscal 2026 to the State Board of Real Property Tax Services pursuant to Section 1803-a of the Real Property Tax Law
- RESOLUTION AMENDING AND RESTATING THE RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF. FOR THE FISCAL YEAR BEGINNING ON JULY l, 2025 AND ENDING ON JUNE 30, 2026, BY THE LEVY OF TAXES ON THE REAL PROPERTY IN THE CITY OF NEW YORK, IN ACCORDANCE WITH THE PROVISIONS OF THE CONSTITUTION OF THE STATE OF NEW YORK. THE REAL PROPERTY TAX LAW AND THE CHARTER OF THE CITY OF NEW YORK.
- Roll Call
- Resolution concerning authorizing an increase in the amount to be expended annually in seven business improvement districts and one special assessment district, and the setting of the date, time and place for the hearing of the local law increasing the annual expenditure for such districts.
- Resolution approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget
- Resolution concerning the establishment of the Coney Island Business Improvement District in the Borough of Brooklyn and setting the date, time and place for the public hearing to hear all persons interested in the establishment of such district.
- Resolution concerning an amendment to the district plan of the Lincoln Square Business Improvement District to change the method of assessment upon which the district charge is based and authorize additional services for the district, and setting the date, time and place for the public hearing of the local law authorizing such changes
- Resolution to determine a one percent increase of the current base proportion of any class of real property over the adjusted base proportion of the immediately preceding year for purposes of determining the current base proportion for Fiscal 2026
- Resolution to amend and restate the resolution computing and certifying base percentage, current percentage, and current base proportion of each class of real property for Fiscal 2026 to the State Board of Real Property Tax Services pursuant to Section 1803-a of the Real Property Tax Law
- Resolution to amend and restate the resolution computing and certifying adjusted base proportion of each class of real property for Fiscal 2026 to the State Board of Real Property Tax Services pursuant to Section 1803-a of the Real Property Tax Law
- RESOLUTION AMENDING AND RESTATING THE RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF. FOR THE FISCAL YEAR BEGINNING ON JULY l, 2025 AND ENDING ON JUNE 30, 2026, BY THE LEVY OF TAXES ON THE REAL PROPERTY IN THE CITY OF NEW YORK, IN ACCORDANCE WITH THE PROVISIONS OF THE CONSTITUTION OF THE STATE OF NEW YORK. THE REAL PROPERTY TAX LAW AND THE CHARTER OF THE CITY OF NEW YORK.
- Charles Hill: Block 1827, Lot 1, Manhattan, Community District No. 10, Council District No. 9.
- Seneca Open Door: Block 1594, Lot 17, Manhattan, Community District No. 10, Council District No. 9.
- State Preservation: Block 2090, Lot 26; Block 3084, Lot 20; Block 3085, Lot 8; Block 3087, Lot 7; Block 3097, Lot 38; Block 3164, Lot 54; Block 9245, Lot 300; Block 9621, Lot 1; Block 9631, Lot 227, Queens, Community Districts No. 6 and 9, Council District No. 29 and 30.
Recent documents
Fresh records from this municipality.
Civic leadership
Know who to contact about the decisions that matter.