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$111B NYC budget deal will reverse majority of Adams’ proposed cuts: sources

NEW YORK, NEW YORK - JUNE 24: New York CityMayor Eric Adams speaks at a press conference on building a more equitable future for NYC public schools at the Samara Community School on JUNE 24, 2024 in the Bronx borough of New York City. (Photo by Michael Nigro)

A handshake deal between Mayor Eric Adams and City Council Speaker Adrienne Adams is set to be announced Friday on a $111-plus billion budget that will reverse the majority of cuts pushed by the mayor in recent months, sources told The Post.

The two Adamses — whose rivalry has become increasingly bitter — are set to shake hands on the fiscal year 2025 budget agreement in a 2 p.m. event, sources said. Their handshake will set up a Council vote before a July 1 deadline.

The spending plan, if approved, would dwarf the $107 billion approved by Council members for the current fiscal year’s budget.

The full scope of reversals had yet to be unveiled, but the mayor and speaker touted a $58 million funding restoration to libraries Thursday night.

The budget will also restore funding to 3-K programs, but sources didn’t know to what extent.

Other restorations include $53 million to city cultural institutions, $19.6 million to the Department of Education’s “Summer Rising” program and $14 million to community schools, a source said.

Many lawmakers and advocates had been outraged over the mayor’s cuts, which he contended were necessary to plug the hole of a multi-billion-dollar migrant crisis.

“It took a while, but I think once both sides agreed the city’s revenue forecast was looking way better than originally expected, it was inevitable that the Mayor would reverse the budget cuts,” said Councilman David Carr (R-Staten Island).

Sources said that the budget also contains $2 billion in new spending on housing.

“Looks like budget will be voted on by Council on Sunday,” a source said.

The budgetary backflip on libraries — which faced scaling back to five-day-a-week service under the mayor’s cuts — didn’t come as a surprise to Minority Speaker Joe Borelli (R-Staten Island).

He cast the high-profile bookish debate as the fiscal year 2025 “dance, same as the last.”

“One. Two. Three. Four. Financial calamity, counter claims, press conferences, found money, compromise, cha cha cha,” he said.

He cast the high-profile bookish debate as the fiscal year 2025 “dance, same as the last.”

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