2016 AnnualBudget20162017Adoptedbyth

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Subject Headings: City of Cambridge, MA Budget, Adopted Municipal Budget.

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Introduction

To the Honorable, the City Council, and the residents and taxpayers of Cambridge:

I am pleased to present the adopted Operating and Capital Budgets for the City of Cambridge for FY17 as well as the proposed FY18-21 Operating and Capital Plans. This Operating Budget of $574,562,125 represents an increase of $26,338,821, or 4.8%, over the FY16 Adjusted Budget. The proposed Capital Budget is $83,863,070.

The FY17 Budget sets a bold agenda for the City that closely links with the priorities established by the City Council. Cambridge is a place where families should thrive – through creating and preserving affordable housing, offering diverse learning opportunities, and advancing sustainability efforts to ensure that our community remains equitable, vibrant, and resilient for generations to come. The City will continue to advance affordable housing by directly offering affordable rental and ownership opportunities to residents, working with affordable housing providers to advance plans for new affordable housing, and planning for the preservation of affordable housing at-risk. A key component of the FY17 workplan will be to advance recommendations for changes to the City’s inclusionary housing provisions. Through FY16, the City has appropriated a total of $124.4 million in Community Preservation Act funds for affordable housing initiatives. Since FY05, the City has created 1,176 units of affordable housing and preserved an additional 1,130 affordable units throughout Cambridge (...)

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 AuthorvolumeDate ValuetitletypejournaltitleUrldoinoteyear
2016 AnnualBudget20162017AdoptedbythCity Council of Cambridge, MAAnnual Budget 2016-2017 Adopted by the City Council, Cambridge, Massachusetts2016