Mayor Michael Bloomberg and City Council members announced a deal Sunday on a $70 billion budget that they say wouldn't raise taxes on New Yorkers and won't cut major services.
In fact, the plan allocates more money for New York City Housing Authority and post-superstorm-Sandy recovery improvements in the hardest-hit areas in the city, they said.
"We were able to maintain those goals without stretching taxpayers' wallets," a beaming Bloomberg said, surrounded by council members at City Hall.
The council is expected to vote and pass the budget, covering the 2014 fiscal year, this week.
The mayor and City Council Speaker Christine Quinn said that because of several new revenue sources, there will be no cuts to firehouses, libraries or education.
NYCHA will receive $58 million for senior and after-school centers to counter federal cuts.
Bloomberg's office said that $250 million will be spent on parts of his post-Sandy plans to stormproof the city.
The mayor warned that the future might not be financially simple for the city. The budget predicts a $2 billion gap for the next fiscal year, but Quinn, a mayoral candidate, noted that the city has always overcome those burdens.
"We're not leaving the next council and next administration bad financial footing," she said. "We've all come together to deliver for New Yorkers."