Bloomberg adds more than $1 billion to school capital budget
Mayor Bloomberg added approximately $1 billion to the school capital budget this year.
Bloomberg?s promise of additional funds follows the state?s failure to deliver the $6.5 billion it has been ordered by the courts to give Bronx and city schools.
The increased funds, however, do not actually add to the city?s overall contribution to Bloomberg?s 5- year capital plan for schools. This year?s extra $1.3 billion will be offset by decreased contributions over the next four years.
The mayor plans to send his modified budget to the city council in the next few days.