The Real Deal New York

NYCHA could sell public land to raise funds

Troubled agency "cannot assure" no sale under city's 10-year reform plan
June 08, 2015 06:00PM

The New York City Housing Authority could sell public housing land in order to raise funds for the troubled agency.

NYCHA general manager Michael Kelly told the City Council’s public housing committee Monday that the agency “cannot assure” that it won’t make such a sale in the future.

Councilman Ritchie Torres, who chairs the public housing committee, asked Kelly whether he could ensure that there would be “absolutely no sale of public housing land” under the city’s plan to stabilize NYCHA, according to Capital New York.

Mayor Bill de Blasio unveiled his 10-year “NextGeneration” plan to improve and help fund the agency last month. The city’s largest landlord and the country’s largest public housing authority, NYCHA has faced insolvency and has a $17 billion capital repair backlog. [Capital New York]Rey Mashayekhi