State Aid Package Increases Aid To Yonkers By $84.7 Million

 

The 2006-07 State Budget contains an $84.7 million increase to Yonkers schools, including:

  • $20.7 million in municipal aid;
  • $20 million of MAGNET aid;
  • $20 million in increased funding from video lottery terminals at Yonkers Raceway; and
  • $24 million for economic development projects to help revitalize the city, create new jobs and reduce the growing tax burden on Yonkers residents.

By securing this additional funding for Yonkers, we are not only preparing for the future by investing in education, but are also helping to reduce crushing property tax burdens by helping the City close it’s dramatic budget gap.