THE BRONX - More than $50 million of the Bronx budget, announced Monday by Borough President Adolfo Carrión Jr., is expected to be allocated toward capital projects in the borough.

Under the new budget, 27 housing initiatives throughout the borough will receive a total of $25.5 million, including senior and low-income housing developments.

School funding will also get a boost, with $10 million going toward public schools and just over $3 million toward Bronx colleges. Local libraries are set to receive more than $1 million.

Among other recipients of government funds are Bronx community centers, which will receive nearly $2 million, and cultural institutions, like art centers, which will get more than $2 million.

In addition, more than $5 million will be set aside for the upkeep of Bronx parks, and $1.5 million for local hospitals and health centers.

Carrión says wise investments in communities create opportunities for people to realize the benefits of a strong economy.