Legislature passes NYCHA Trust bill

The state Senate and Assembly have passed the New York City Housing Authority Public Housing Preservation Trust bill, legislation that is expected to finance the repair of 25,000 units and help the troubled public housing authority address $40 billion in capital needs.

The bill passed the Senate by a 38-25 vote, following its passage in the Assembly by a 132-18 vote.

Both Mayor Eric Adams and Gov. Kathy Hochul advocated tirelessly for the bill’s passage alongside the legislation’s primary sponsors: Manhattan state Sen. Brian Kavanagh and Brooklyn Assemblyman Steven Cymbrowitz, the chairs of the Senate and Assembly housing committees. The legislation will create a new public housing entity

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/legislature-passes-nycha-trust-bill"]

Latest Articles

Related Articles