Capital Funding applications for Fiscal Year 2024 have been made public and are now open, according to Brooklyn Borough President Antonio Reynoso.
As part of the annual NYC budget process, the five borough presidents have the authority to distribute capital funds to different eligible projects. The money is typically used to construct new projects or to enhance current ones so that improvements may be made throughout the whole borough.
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Schools, hospitals, roadways, parks, housing developments, charitable groups, and more may apply for the funds.
According to Reynoso, it is imperative that all qualified parties in the borough submit applications for the funds in order to finish necessary projects and improve the lives of Brooklyn residents.
Reynoso noted, “We’ve got to get the word out that funding is available to our city agencies, public schools, nonprofits, and cultural institutions who have exciting projects in mind to benefit Brooklynites.”
“The applications we receive help us understand Brooklyn’s priorities and needs. Last year, we made history-making investments in our public hospitals to address the maternal mortality crisis in our borough, and this year, we’re gearing up to spread that love and support all across Brooklyn. If you or anyone you know has a project that might be eligible for capital or discretionary funding, now is the time to see what the Office of the Borough President can do for you.”
Reynoso last year, making him the first borough president to ever do so. To enhance maternity healthcare, three public hospitals in Brooklyn received $45 million in FY23 financing.
Reynoso declared this year that he intended to use a portion of the money to assist regional nonprofit organizations in purchasing permanent buildings to house their operations.
The qualified organizations have until February 23, 2023, at 5:00 PM, to submit their applications.
You may find applications for all city departments, NGOs, and cultural institutions here.
