Communication from the Mayor - Submitting the Preliminary Certificate, setting forth the maximum amount of debt and reserves which the City, and the NYC Municipal Water Finance Authority, may soundly incur for capital projects for Fiscal Year 2027 and the ensuing three fiscal years, and the maximum amount of appropriations and expenditures for capital projects which may soundly be made during each fiscal year, pursuant to Section 235 of the New York City Charter.

This communication from the Mayor submits a Preliminary Certificate outlining the maximum debt and reserves the City, the NYC Municipal Water Finance Authority, and the NYC Transitional Finance Authority can soundly incur for capital projects. The certificate covers Fiscal Year 2027 and the subsequent three fiscal years (2028-2030).

Key figures for capital expenditures include:

• FY 2027: $18,228 million
• FY 2028: $18,933 million
• FY 2029: $18,890 million
• FY 2030: $18,356 million

Of these amounts, a significant portion is expected to be financed through the sale of bonds by the City and the Transitional Finance Authority, estimated at $14,733 million in FY 2027, $15,443 million in FY 2028, $15,542 million in FY 2029, and $15,138 million in FY 2030. Additionally, water and sewer capital expenditures financed by the Municipal Water Finance Authority are estimated at $3,495 million in FY 2027, $3,490 million in FY 2028, $3,348 million in FY 2029, and $3,218 million in FY 2030.

The certificate also sets preliminary maximum appropriations and expenditures for capital projects, with City debt, TFA debt, or Water Finance Authority debt funding these amounts. The figures for new appropriations are:

• FY 2027: $25,693 million
• FY 2028: $17,866 million
• FY 2029: $17,131 million
• FY 2030: $16,904 million