Building a Better NYC Capital Budget

Conclusion: A Better Capital Budget is Within Reach

New York City's success over the past two decades can be credited in part to wise City and State investment in public works, which in turn has facilitated an explosion of private investment. This cycle of success has had the consequence of creating even greater demand for transportation access, better schools, and more reliable services from government.

Given the sizeable outlay the City already makes on infrastructure each year, the proposals outlined here will improve the City's capital planning and management capacity and make project delivery more cost effective.

However, efficiency is only part of the equation. In truth, more resources also have to be directed to capital investment. This means finding new revenue streams that can be dedicated exclusively to infrastructure spending. The Building Congress has offered several illustrations here; others of equal merit exist as well.

To help effect these changes, the Mayor should create an Office of Infrastructure to continually review capital planning and propose ways to improve capital project delivery. The City Council should create a Committee on Infrastructure, with a similar mission. We urge the City to take quick action on these proposals where possible, and to work with leaders in Albany to advance initiatives needing State authorization.