In a surprise, the city’s capital spending plan for the next four years has increased by $708 million over what was proposed in June, the Independent Budget Office reported yesterday.
“It’s growing at a time of fiscal constraint,” noted the IBO’s Doug Turetsky.
The city’s latest plan allocates $38.4 billion from fiscal 2010 through 2013 to some 7,400 projects, with the largest share going to schools and environment-related construction.
Officials said that’s an increase of 2.3 percent from what Mayor Bloomberg proposed, after accounting for a rollover of $7.1 billion from fiscal 2009. Capital budgets typically include such rollover because projects frequently fall behind schedule.