CM Banks questions OMB on comprehensive modernization vs privatization for NYCHA
Banks presses on why the administration relies on PACT conversions rather than comprehensive modernization, calling it privatization. Boirard explains CompMod doesn't draw down federal Section 8 resources and would require the city to pick up full development costs, which is less efficient.
If you can give us some clearer numbers as to how much is going into each, because obviously you've abandoned comprehensive modernization, which is something that has worked and continues to preserve public housing.
And you've continuously
dumped more monies into privatization of public housing, and that is definitely concerning.
And that leads me to my next question, if I may, Chair.
The mayor's housing plan recognizes NYCHA's critical role in addressing New York City's housing crisis, and I've heard that continuously.
Why does the administration continue to rely heavily on private development partnerships and RADPAC conversions rather than the advancing
a comprehensive strategy to reinvest and preserve traditional Section 9 public housing?
It seems contrary to his philosophy.
I think if you look at the numbers, it tells a clear story.
I've seen the numbers.
Okay, I'm just answering your question.
If you're looking at the total budget amount, you'll see a total of $22 billion going to housing.
A full quarter of that amount is going to NYCHA.
Of that amount, you have over half going to Section 9 preservation.
And within the balance that's going to PACT and TRUST, a substantial amount will be going to the TRUST, which is fully within NYCHA management control.
And the, just want clarity, the administration continuously uses the word comprehensive or NYCHA renovations.
Is that just a coded word for privatization of public housing?
Of public housing?
I think that actually refers to the
the level of upgrade that's going to be done to the developments as opposed to...
So in that term that's being used, it's not privatization of public housing.
I couldn't really speak to where you're seeing the term being used.
I think in general, if you're talking about...
This was in the director's...
I believe if you're looking at comprehensive modernization, you're really looking at hard costs within the developments and what it takes to upgrade each of the apartments.
And my last question.
Can I put you in round two?
Is that okay?
I'm sorry.
Thank you, Madam Chair.
Great.
Okay.