The New Rochelle Corporation for Local Development unanimously adopted its 2026 budget and multi‑year projections at a meeting on Oct. 29 in the City Council conference room. The resolution was introduced by Executive Director Adam Salgado and presented in detail by CLD/IDA Manager Katrina Shivers, consistent with the submission requirements under Section 2800 of the New York Public Authorities Law.

Shivers told the board that CLD revenues for 2025 were lower than originally forecast largely because several projects anticipated to close in 2025 slipped into 2026 and because earlier projects approved before the social equity fee was established closed without that fee. "Some of the earlier projects that were approved, the social equity program wasn't — it's a fairly new program — so if they were approved maybe two years ago before the program, they're gonna close without that social equity fee," Shivers said. She added that projects approved under the newer UTEP will generally include the social equity fee going forward, which should increase future revenue.

Board members asked about a higher job training line item in the CLD budget. Staff explained the increase reflects a midyear amendment to a contract with Westhab to add retention monitoring, additional reporting, and staff support. "It was increased earlier this year... there was an amendment to the Westhab contract because they were going to do the retention monitoring," Shivers said.

Members also discussed tactical urbanism funding and asked city staff to identify potential funding in the city budget or from foundations and trusts; staff said related items will be visible in the November city budget cycle. Interim staff reported they will stay on through annual reporting and will bring a short extension request to the board — through March 31 — to complete filings with the Authority Budget Office and to present a UTEP amendment with an associated training workshop.

The motion to adopt the CLD 2026 budget was moved and seconded and carried unanimously. The board scheduled its next meeting for Nov. 19, 2025. Staff noted the Pratt project remains under discussion and may require a separate public hearing pending the cost‑benefit analysis and consultant coordination.