Mayor Bill de Blasio announced a plan Tuesday to help revitalize public housing and fix financial problems of the New York City Housing Authority (NYCHA) by using the housing complexes more efficiently and reducing expenses.
The plan, NextGeneration NYCHA, involves various initiatives targeted to save the reeling city agency, which has only “one month remaining of surplus cash on hand and after that will go into deficit,” de Blasio said.
This includes leasing land in public housing complexes to developers to build more units, half of which must be used for affordable housing for families earning no more than 60 percent of the area’s median income, or about $46,600 annually for a family of three.
Also, 10,000 completely affordable units will be created in complexes in Brooklyn and the Bronx on underutilized, street-facing lots currently used for parking, trash or storage sites. These programs will cross over with de Blasio’s goal of creating 80,000 affordable housing units in 10 years.