Committee on Finance Regular Meeting – December 16, 2025
Committee on Finance Regular Meeting – December 16, 2025
The Committee on Finance, chaired by Councilwoman Joanne Ryan, met on Tuesday, December 16, 2025, at 5:33 PM. Present were Chair Ryan, Councilman Sanchez, and Councilwoman Reeves (two others absent). The meeting addressed three Tax Stabilization Agreement (TSA) applications. Substituted versions of all three items were approved by motion. The administration was represented by Chief Mancine, who testified on the fiscal notes. Public hearings were scheduled for two items; the third item had no representative present.
Discussion Items
- 157 Gano Street (Gano 3): A 35‑unit new residential construction on a vacant lot. Units: 5 studios, 20 one‑bedroom, 10 two‑bedroom (all market rate, no affordable units). Construction started but compliance with apprenticeship and MBE/WBE requirements is unconfirmed. The TSA (Category 2) would save the applicant $371,262 over 10 years; the city would receive projected park & rec fees of $25,988 and a monitoring fee of $4,250 annually. The property currently generates ~$13,000/year in taxes; after TSA expiration, estimated tax revenue ~$124,000/year.
- 20 America Street: A 23‑unit new residential building (10 studios, 13 one‑bedroom; all market rate) on a paved, vacant lot. No parking provided (zoned exemption). Construction anticipated to start spring 2026 at earliest. The TSA (Category 2) would save the applicant $361,821 over 10 years, generating park & rec fees of $25,327 and a monitoring fee of $3,537 annually.
- 386 Atlantic Avenue: A four‑story building with one commercial unit on the first floor and 21 residential units above. The representative from Hewitt Street was not present. Chief Mancine reviewed the fiscal note: project cost $5 million, savings to applicant $526,762, park & rec fees $36,873, monitoring fee $5,000 annually (Category 2). The committee expressed disappointment at the absence but scheduled a public hearing.
Key Outcomes
- Motion to substitute all three agenda items (157 Gano Street, 20 America Street, 386 Atlantic Avenue) with red‑line versions passed unanimously.
- Public hearings scheduled for 157 Gano Street and 20 America Street on a date to be determined (likely late January 2026). The committee instructed the applicants to complete a TSA review document and provide it to the clerk before the hearing.
- Public hearing scheduled for 386 Atlantic Avenue, to be set at a later date. The committee requested the applicant contact the clerk’s office directly and submit the required TSA review form.
- Meeting adjourned by motion.
Meeting Transcript
Good evening on calling to order the committee on finance regular meeting. I am Province Councilwoman Joanne Ryan. This is Tuesday, December sixteenth, twenty twenty-five. It is five thirty-three PM. And finally read the role. Chairman Ryan. Present. Vice Chairman Taylor is absent. Present. Councilwoman Reeves is absent. Councillor Sanchez. President. We have three present and two absent. We have a cloud. Thank you very much. Let the record represent we are represented by Yvonne. This evening. Thank you very much. And the administration has sent um Chief Mancine as well to testify on the fiscal notes on these matters. Okay. Um I'd like to take a motion to take an item out of the order. I'd like to on waiver rating and combine items one and three in here 20 America Street and one fifty-seven Banal Street on that first. Okay, Madam Clerk. So actually Chief, can we swear you went as well? Please raise your right hands. Okay. Is that okay with you? Okay. So let's start with data street. So before you start, the clerks have on brought to my attention that we have substitutes for all three matters that are before us. And why don't we on tape um what is presented before you and I can see that uh the committee has uh red line versions on let's take those as let's call them substitute one, two and three motion made by council and side of the sanchez all in favor I think those eyes have it as the priorities who have the items have all been substituted. And for the benefit of the um the council um finance team, I just want to point out that uh these have been hanging around a bit on there were drafting uh errors uh related to time. Um we had an update the fiscal notes on and uh we went through that process. The law department has reviewed them and provided what is before you today on yes, some housekeeping items uh renewed in jurisdiction of the I-95 commission on 2024 and 2025 on not significant uh matters with the fiscal notes that can change, and that's why I asked whether it's gonna see me to come and testify on that on so with that said any questions committee members. We go okay. Let's start on Dano Street. Um tell us what it is, what the proposed, what the plan is, um, and share with other details you'd like about the project. Yes, thank you, uh chair. Uh so that's 157 Game of Street colloquial locally uh in our office we refer to as game of three, uh, because it's a part of four different parcels right next to each other on Gaining Street. Um, the first two have already been approved for their TSAs. This is the 30 in line, and we have the fourth one uh plan to be applied for uh most likely sometime next year. This is a 35 unit residential uh construction, new construction. It's going to have to five studios, 10 two-bedroom units, and 20 one bedroom units. Can you speak slowly with these 35 residential units? Is that what you said? Okay, residential and commercial, no commercial, no commercial. You speak very fast. Okay, give us the rundown of the units, please. Uh yes, so I'm writing it down of the 35 units, five will be studio units. Um, 10 will be two bedroom units, and 20 will be one bedroom units.
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