NYCHA chair takes aim at Trump’s funding cuts

Shola Olatoye said the proposed $75M-plus in budget cuts jeopardizes the agency's progress

TRD New York /
Mar.March 14, 2017 12:00 PM

The New York City Housing Authority will lose at minimum $75 million from its operational budget this year as a result of Trump administration funding cuts, agency chair Shola Olatoye testified Monday. The loss in federal funds means the beleaguered agency expects to run a $14 million operational deficit, instead of a surplus this year.

“The hard-fought gains to improve service levels may slip backwards at one of the first casualties of cuts,” Olatoye said at a City Council budget hearing yesterday, according to the Daily News. “I fear all that progress may be in jeopardy as we face the most uncertain times in public housing history.”

The federal Department of Housing and Urban Development, led by Secretary Ben Carson, informed the city there will be a new $40.5 million cut to Section 8, in addition to more than $35 million in cuts that were estimated last week, according to the New York Daily News. NYCHA is already struggling to reduce a $17 billion backlog in capital repairs.

The agency will be forced to consider stopping repair work after 4:30 p.m., because of high costs, as well as cutting the number of Section 8 vouchers, according to Olatoye. She added that there is a “very real concern and threat” that residents will see rent hikes if a Republican-controlled Congress alters the rules setting rent at 30 percent of a tenant’s income.

Bronx council member Ritchie Torres, who is chair of the public housing committee, said the Trump presidency “poses the gravest threat to public housing in the 82 year history of the New York City Housing Authority.” [NYDN] — Miriam Hall


Related Articles

arrow_forward_ios
348 Court Street (Photo by Justin Heiman/Getty Images)

Collapses raise questions about safety-law exemption

Collapses raise questions about safety-law exemption
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
Assemblyman Harvey Epstein and Senator Brad Hoylman (Epstein by Erik McGregor/LightRocket via Getty Images; Hoylman by Roy Rochlin/Getty Images)

Lawmakers introduce bill to keep rent regulation alive

Lawmakers introduce bill to keep rent regulation alive
China’s housing market is into bubble territory

There are fears of a great housing bubble in China

There are fears of a great housing bubble in China
Governor Andrew Cuomo (Getty, iStock)

What NYC’s phase 4 means for real estate

What NYC’s phase 4 means for real estate
Hong Kong

Foreign firms are vacating Hong Kong offices like never before

Foreign firms are vacating Hong Kong offices like never before
Mayor Bill de Blasio (Getty, Wikimedia)

Landlords challenge city laws protecting non-paying businesses

Landlords challenge city laws protecting non-paying businesses
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...