The Real Deal New York

Massive BNP settlement will boost NYC public housing security

Part of New York's share of $8.8B payout to go for surveillance cameras, locks and lighting

December 16, 2014 04:30PM

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From left: Jean-Laurent Bonnafe and Cyrus Vance

New York City’s public housing developments will get $101 million in security upgrades as a result of a massive legal settlement earlier this year between U.S. officials and France’s largest bank BNP Paribas.

New York was awarded $440 million of the $8.8 billion total that BNP Paribas agreed to pay to federal and state governments after pleading guilty to violating U.S. anti-terrorism sanctions. The bank admitted to handling transactions with Sudanese, Cuban, and Iranian clients.

Mayor Bill de Blasio and District Attorney Cyrus Vance Jr. announced the spending plan today, saying that $89 million will go to physical improvements and $12 million will go towards audits and surveys to develop crime-fighting strategies.

The $89 million will pay for a number of infrastructure upgrades, including the installation of surveillance cameras, exterior lighting and new doors and locks, Bloomberg News reported. [Bloomberg News] — Tess Hofmann

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