According to the United States’ General Accounting Office, receiverships in housing authorities generally result from “longstanding, severe, and persistent management problems that led to deterioration of housing stock.” NYCHA, who took the public advocate’s top spot for the city’s worst landlord in 2018, faces mounting repair costs in excess of $25 billion and has exhibited failures eliminating mold and lead paint, among a laundry list of other nightmarish woes for its tenants. — Curbed NY
Mayor Bill De Blasio and the Department of Housing and Urban Development have until the 31st of January to agree on how to run the agency. If that does not happen and Ben Carson declares New York City Housing Authority in substantial default, NYCHA which oversees housing for over 400,000 New Yorkers might be taken over by the federal government.
In the case of an administrative receivership, NYCHA’s affairs would be taken over by HUD, which could potentially involve working together as partners. However, if placed into a judicial receivership, NYCHA would be appointed a receiver, ranging anywhere between HUD officials and private firms, that after personal assessment would have full authority to change the agency and manage its properties to their liking, backed by the court.
1 Comment
Social housing in Spain. Yes, that the Mediterranean Sea.
Block this user
Are you sure you want to block this user and hide all related comments throughout the site?
Archinect
This is your first comment on Archinect. Your comment will be visible once approved.