Federal aid to NYCHA slashed by $35M

It's the biggest cut the agency has seen in five years

TRD New York /
Mar.March 07, 2017 08:35 AM

From left: Shola Olatoye (Credit: Max Dworkin) and Ben Carson

The federal government is cutting at least $35 million in aid this year to the New York City Housing Authority. The decrease is the largest the public housing agency has seen in five years.

The city has feared cuts to NYCHA since Donald Trump was elected president in November, though the decrease came before Ben Carson was confirmed as secretary of the U.S. Department of Housing and Urban Development, the Wall Street Journal reported.

In February, HUD sent a letter to the city saying that NYCHA’s aid would be cut by 5 percent. Some senior officials at the agency are expecting the cuts this year to swell to $150 million.

“The direction we’re moving in is one where public housing is drastically different or doesn’t exist,” Shola Olatoye, NYCHA’s CEO, told the Journal. “The progress we have made over the course of the last three years — it’s not that it’s at risk. It evaporates.”

Roughly $2 billion of NYCHA’s $3.2 operating budget comes from HUD. NYCHA provides housing to low- and moderate-income people and is home to more than 400,000. [WSJ]Kathryn Brenzel 


Related Article

arrow_forward_ios

“Rich people are going to get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people

Congresswoman Alexandria Ocasio-Cortez Holds Public Housing Town Hall In The Bronx (Credit: Getty Images)

Rep. Alexandria Ocasio-Cortez wants to put rent regulation, mortgage fraud in the national spotlight

Elevated risk: Malfunction at NYCHA is putting public housing residents at greater risk of being injured in its elevators

Clockwise from left: 373 East 183rd Street, 261 East 202nd Street, 270 East 203rd Street, and 750 East 134th Street in the Bronx (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

Amazon mulls new grocery chain, Douglas Elliman’s new marketing boss: Daily digest

AOC and Kamala Harris want to reverse rule that evicts public housing tenants over felonies

Trump admin wants to spur affordable housing by easing local building restrictions

Manhattanville (Credit: Wikipedia)

Monadnock, others to lead $500M renovation of Manhattan NYCHA properties

arrow_forward_ios