Today, Mayor Bloomberg, HUD
Secretary Shaun Donovan and NYCHA Chairman John B. Rhea announced HUD’s approval of New York City’s application to qualify 21 NYCHA
developments – and their more than 20,000 housing units – for federal
subsidies. NYCHA will receive more than $400 million in
public and private funding, most of which will go toward capital
improvements. NYCHA developments that were devoid of dedicated federal funding in the
past will now be included in a federal subsidy program that will deliver
$65-$75 million every year for ongoing maintenance.