A new brief from the Furman Center, NYCHA’s Road Ahead: Capital and Operating Budget Needs, Shortfalls, and Plans, reviews how the New York City Housing Authority (NYCHA) plans to address its massive public housing repair needs in the coming years and identified a number of serious potential challenges. “In a 2017 Physical Needs Assessment (PNA), NYCHA’s engineering consultants estimated the cost of repairing and replacing necessary building systems over five years to be $31.8 billion ($180,700 per unit), and $45.2 billion ($255,700 per unit) over 20 years…while management is often blamed for NYCHA’s state of disrepair, capital needs of this magnitude cannot arise from management deficiencies alone, nor can they be solved solely by better management practices.”
Yesterday the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies (T-HUD) favorably reported its FY 2020 funding bill to the full committee. The full Senate Appropriations Committee will hold a hearing on the bill at 10:30 am EDT on September 19 in the Dirksen Senate Office Building, Room 106 and via webcast.
As of publication, the T-HUD bill has yet to be released. Overall the subcommittee received a 302(b) allocation of $74.3 billion, $3.2 billion above the FY 2019 enacted levels. HUD received $56.0 billion in total budgetary resources, which is offset by $7.4 billion in receipts from the Federal Housing Agency/Ginnie Mae for a net funding level of $48.6 billion, an increase of $2.3 billion above the FY 2019 enacted level.Read More