LYNN — The City Council voted to approve a $517,267,001 budget for fiscal year 2025, including $249,450,000 for the school district.
“We’re able to provide key services that our residents rely on and make important investments while also maintaining that fiscal responsibility in a way that’s consistent with the best interest of our residents,” Mayor Jared Nicholson said.
He also noted the budget’s commitment to education spending, saying that the money the city spends on the school district’s budget is “absolutely money well spent.”
“We have students who have great needs and the number of students that we educate continues to grow,” Nicholson said.
He said several years ago, the city was failing to meet the national school spending requirement, which is no longer the case.
The council also approved a bond order to allow the city to purchase the Eastern Bank at 195 Market St. for $12 million. The city intends to use the building for administrative purposes for the school district to free up classroom space in buildings it already owns.
Policy Director Danya Smith said on behalf of Nicholson that the purchase would be a “significant opportunity” to address the crowded classrooms in the district.
He said the annual debt service on the bond is estimated at less than the current amount the district pays on its leases, which is $600,000 to $700,000.
School Committee member Lenny Pen͂a spoke in favor of the purchase, saying that with more than 17,000 students, “it’s time to think outside the box.”
“Our students deserve it,” Pen͂a said.
During the meeting, the council also voted unanimously to approve increasing the salaries for city councilors and School Committee members by $7,000.
Councilor-at-Large Brian LaPierre said the increase would take effect after the next municipal election and be implemented over two fiscal years, starting in FY26.
He said the purpose of the increase is to encourage the next generation to hold elected office and keep up with rising living expenses, adding that the School Committee has not received a raise since the 1980s.
“The overarching rationale for this is to recruit others, set this up for the next generation of elected officials,” he said. “Let’s make this an attractive job that people want to see, earn, and serve.”
Councilor-at-Large Nicole McClain said the increase was about removing barriers for people who want to represent the city.
“It’s very important that this is attractive to every income level so that everybody has access to be a political official,” McClain said. “It can’t just be for people who own their own businesses or come from wealthy families.”
