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June 6, 2022
State lawmakers approve new public trust that could fund repairs at 25,000 NYCHA apartments
New York state legislators last week passed legislation that would allow the New York City Housing Authority to raise billions of dollars for desperately needed repairs at 25,000 apartments in the system. Championed by Mayor Eric Adams and proposed by public housing authority chair Gregory Russ, the Public Housing Preservation Trust is seen as a rescue measure for funding needed for the NYCHA system–by far the nation's largest public housing authority. The new public trust could raise billions of dollars to upgrade thousands of units, The City reports.
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