The city agreed to oversight for the troubled authority
A deal was reached yesterday that gives the federal government more control over the New York City Housing Authority (NYCHA). The agreement calls for the appointment of a powerful monitor and the replacement of the authority’s interim chairman, according to the NYTimes.
What else is in the deal: The city has agreed to invest an additional $1 billion in the authority’s dilapidated housing stock over the next four years and $200 million per year afterwards. Additionally, it also establishes deadlines by which NYCHA must remediate many of the hazards in their buildings (e.g. lead paint, broken elevators, leaky pipes).
Be Smart: The plan also calls for selling air rights and allowing private development on NYCHA land.