Mayor Adams, NYCHA Tenants, Elected and Community Leaders Unite to Support NYCHA Preservation Trust

MAYOR ADAMS, NYCHA TENANTS, ELECTED AND COMMUNITY LEADERS UNITE IN SUPPORT OF NYCHA PUBLIC HOUSING PRESERVATION TRUST

Public Entity Would Unlock Billions in Federal Funding and Speed up Repairs for Tens of Thousands of Residents

Legislation Keeps Residents at Center of Implementation Process, Receives Key Push in Albany With Legislative Session Set to End June 2

NEW YORK – New York City Mayor Eric Adams, along with government, labor, and community leaders, stood with New York City Housing Authority (NYCHA) residents today at Polo Grounds Houses in support of the NYCHA Public Housing Preservation Trust. The Trust — which requires authorization from the state Legislature — would be a new, entirely public entity that would unlock billions of dollars in federal funding to accelerate repairs and make long-overdue investments for tens of thousands of NYCHA residents across all five boroughs. The current legislation — A7805C — would keep NYCHA residents at the center of the Trust’s implementation process, preserving all resident rights and protections. NYCHA needs over $40 billion to fully restore and renovate all its buildings.

“For too long, our NYCHA communities have been ignored and denied their fair share of investments and services. But we’re changing that with this legislation, and my administration is all-in on fighting for NYCHA,” said Mayor Adams. “Every New Yorker deserves a safe home with working utilities, and the NYCHA Public Housing Preservation Trust will help make that a reality. I know that with the combined force of NYCHA residents, the union workers who serve them every day, and our partners fighting in Albany, we can give these New Yorkers the homes they deserve.”

The legislation being considered in Albany — which was approved by the Assembly Housing Committee earlier this month — retains all current rights and protections for NYCHA residents, including a guarantee that no NYCHA resident will have to pay more than 30 percent of their income towards rent. The legislation also includes over a dozen changes recommended by resident leaders, including:

• A first-in-the-country resident opt-in voting process, under which residents will have the right to vote on any proposed changes to their development;

• Resident participation in vendor selection; and

• Resident representation on quality assurance committees.

Approval of the Trust would allow NYCHA to double the amount of federal subsidy it receives while remaining entirely public by switching to project-based Tenant Protection Voucher funding. It will also provide NYCHA with improved procurement rules that would reduce costs, speed up construction timelines, and allow faster responses to resident requests. NYCHA would continue to own all residential complexes and the land on which they are built, with NYCHA employees continuing to manage the properties. The Trust would have a publicly appointed nine-member board, which includes four resident members.

New York, NY 10039

May 23, 2022