Brooklyn Borough President Antonio Reynoso announced that the application period for the borough’s Fiscal Year 2025 Capital Funding has officially opened.
The initiative, permitted by the New York City Charter, allows all five borough presidents to allocate funds to eligible projects on an annual basis, as part of the City’s budget process.
The purpose of the funding is to help make improvements throughout the boroughs “by creating new infrastructure and upgrading existing assets,” according to a press release.
Among the different areas that the capital funds can be used for include parks, streets, schools, hospitals, affordable housing projects, cultural institutions, as well as other nonprofit organizations, to name a few.
“Capital funding is an engine of transformation in our city, one that enables city agencies, schools, nonprofits, and other organizations to make the physical improvements necessary to continue to serve residents,” said Brooklyn Borough President Antonio Reynoso.
“The applications we receive help us understand Brooklyn’s priorities and needs … 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.”
Interested parties must submit their applications by Feb. 22, 2024, at 5 p.m. (ET). The online form can be found here.
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