Can A Public Trust Help Solve NYCHA’s Multi-Billion Dollar Repair Woes?

New York City Housing Authority: Stapleton Project
Stapleton NYCHA jeh photo by Jim Henderson is licensed under CC0 1.0
After decades of neglect, New York City Housing Authority Buildings, including this one, together need over $45 billion for repairs.

With years and years and billions and billions of dollars worth of government neglect lying heavily on its shoulders, the New York City Housing Authority (NYCHA) is understandably grasping at any and all straws that might preserve its invaluable truly affordable housing.

City and state governments seem disinclined or able to mount a rescue operation. Neither is the ‘small-government’ obsessed Republican national administration stepping up the the plate. In fact, neither Republican nor Democratic federal governments have ever accepted responsibility for the untenable management and maintenance structure that has crippled American public housing from virtually the moment of its inception. Indeed, governments at all levels have preferred to blame all of social housing’s woes on its vulnerable occupants.

In this semi-hostile environment, lip service is often the best that can be expected. What is a responsible housing authority to do? NYCHA’s latest idea is a public trust.

Read more at SPECTRUM NEWS NY1: NYCHA Head Proposes Public Trust for Struggling Agency