Lessons Learned
While On The Beat
By Eric L. Adams
Teaching the Value of a
Dollar at an Early Age
As a child, I knew lean times –
times when I had to forego things
my classmates had and could afford.
At one time or another I’ve heard
“sorry, but those sneakers are just
too expensive, and we can’t afford
to buy those right now.” “I made
so many mistakes as a young man
because I never had a background
in basic financial education, and I
wasted so much money.
I believe we need financial
education taught to every young
New Yorker so they can have an
early start on establishing a bright
financial future. Teaching these ‘soft
skills’ is foundational, like ensuring
the gears of a machine are properly
oiled, to closing the inequality gap
and helping create self-sufficient
families. Recently, I put my support
behind S.2452/A.1357, legislation
that would establish a financial
education curriculum in grades 9
through 12 across New York State.
At least five states currently require
a personal finance course to graduate
high school, including Alabama,
Missouri, Tennessee, Utah, and
Virginia; in September, New Jersey
will require all middle schools to
offer financial education.
Since arriving at Brooklyn
Borough Hall, I’ve committed to
improving the financial literacy
of all Brooklynites, including
an understanding of how money
works, how one earns and
manages it, and how to invest
or donate to help others in need.
Partnering with organizations in
the financial services, grassroots,
and small business communities,
my administration has organized
and supported hundreds of free
educational opportunities across
the borough since 2014, which
have taught nearly 4,500 residents
the necessary skills to make wise
everyday financial decisions. I
declare every April to be Financial
Education Empowerment Month
in Brooklyn, highlighting the
importance for families to make
smart budgeting decisions, avoid
financial scams, and monitor their
expenses. Still, these efforts are no
substitute for classroom instruction
at an early age, helping young men
and women avoid the pitfalls that can
handicap their opportunities.
It is of the utmost urgency that
our children and grandchildren
learn to navigate the world of
personal finance at an early age.
Eric L. Adams
Implementing a financial education
curriculum has been demonstrated
to improve students’ credit scores
and increase savings rates. This
is particularly impactful when we
consider the number of millennials
who are concerned about their
finances. A 2016 survey from Bank
of America found that only 16
percent of Americans between ages
18 to 26 are very optimistic about
their financial future, which for
many includes part of the trillions
of dollars in student debt that our
nation’s borrowers carry. Perhaps
even more alarming, a 2018 report
by Economic Well-Being of U.S.
Households indicated that a full forty
percent of American households did
not have enough money to cover a
$400 emergency expense. Many
more families are struggling on top
of that when we note differences in
education levels, race, ethnicity and
geography.
As borough president, I realize
that Brooklyn cannot thrive if its
families can’t survive on their
finances. All Brooklyn families also
want their children to thrive, and be
assured their children will be able
to survive and overcome challenges
that they may face in the future, by
getting a head-start on financial
literacy. That’s why a holistic 21st
century education needs to include
financial education.
Eric L. Adams is borough
president of Brooklyn. He served 22
years in the New York City Police
Department (NYPD), retiring at the
rank of captain, as well as represented
District 20 in the New York State
Senate from 2006 until his election as
borough president in 2013.
BRONX TIMES R 14 EPORTER, MAY 24-30, 2019 BTR
Sementilli joined with a community resident named Debbie who shouted ‘We are fi ghting
for our children…it has to stop!’ on Saturday, May 18 at a rally he organized outside of 2800
Bruckner Boulevard. Photo by Jewel Webber
Throggs Neck rallies
against substance treatment
clinic; electeds united
BY PATRICK ROCCHIO
Protesters gathered outside of Miracle
City’s offi ces at 2800 Bruckner
Boulevard on Saturday, May 18 for the
second time to protest the opening of a
drug counseling clinic.
The rally, which drew a sizable
crowd, called attention to the impact
that the substance abuse treatment
program, known as an 822 program,
would have on the surrounding
Throggs Neck community, said event
organizer Egidio Sementilli.
“There was a lot of support directly
from the community, and a very good
response from people in the immediate
area,” said Sementilli, adding “We are
organized, we are ready and doing our
homework.”
Representatives from Assemblyman
Michael Benedetto and Councilman
Mark Gjonaj delivered news that
the NYS Offi ce of Alcoholism and Substance
Abuse Services, had not yet received
an application to establish the
clinic from Miracle City.
Additionally, the electeds representatives
informed the crowd that they
had jointly penned a letter to OASAS on
Friday, May 3 expressing their strong
opposition to a counseling center for
those affl icted with substance abuse
and eating disorders at this location.
Senator Alessandra Biaggi, who
previously stated she was remaining
neutral on the matter, had a change of
heart and eventually sided with Benedetto
and Gjonaj in opposition to the
substance treatment program at 2800
Bruckner.
“I’ve had several conversations with
community members who have informed
me of their concerns regarding
2800 Bruckner,” said Biaggi. “While
there is a clear agreement among us
that there is an opioid epidemic that
must be addressed, it has become apparent
that the circumstances surrounding
Miracle City at 2800 Bruckner
Boulevard do not meet the needs of
the community.”
Benedetto said 2800 Bruckner Boulevard
is in an entirely residential
area with one-, two- and three-family
homes and that there are facilities
in Westchester Square and on Waters
Place that already serve Bronxites affl
icted with substance abuse disorders.
Nicole D’Napoli, executive director
of These Our Treasures special
needs pre-k program, which has a playground
that is 100 feet from Miracle
City, said she is concerned about loitering
outside its building that schools 3
to 5 year olds, if Miracle City is granted
a license.
She said that even though the organization
says they won’t dispense any
narcotics, they could easily obtain permission
to do so at a later date.
“We are the closest and we are the
ones who are going to be impacted
the most; it is just too close,” said
D’Napoli. “For me, it is a safety issue
fi rst. It doesn’t belong in a residential
neighborhood, so close to so many children.”
Community activist Andrew Chirico,
Waterbury LaSalle Community Association
board member, said hospital
settings are more controlled, making
them a better place to have substance
abuse treatment programs, especially
those that dispense substances like
Methadone, and expressed staunch opposition
to siting a treatment center at
2800 Bruckner Boulevard.
Mary Jane Musano, WLCA president,
said that people who spent between
$400,000 and $800,000 on a home
near the proposed substance abuse
clinic are rightly concerned that their
property values could be affected if a
drug treatment center opens at this location.
SEE PHOTO SPREAD ON PAGE 40