Banks asks if centers can lose funding during conversion
Banks asks if there is a possibility the center could lose funding during a conversion that is supposed to help the development. He notes there may not be enough funding for center rehabs. Trimble says anything is possible, but NYCHA's intent is to leverage all resources for community and residential properties. She cannot guarantee no site has ever lost money.
So there's a possibility that the center could actually lose funding, do a conversion that's supposed to help the development.
And then keep in mind, too, that you're
You said that it's a possibility that there may not be enough funding to do the rehabs in the center.
So is that taken into consideration too?
Everything, all of the above.
Anything is possible, but our intent is to always work to leverage all of the resources we have for the benefit of our properties, both community and residential.
I can't guarantee that no site has ever lost money, but that's definitely not something we would ever like to see happen.
So we work with the city council.
We work with OMB.
We try to make these deals work as best as we can.
But again, it depends on the scope and the timing of the funding in comparison to when the project is going through construction.
Has there been any situations where...
Funding has been taken away or lost.
I'd have to get back to you.
I'm not as familiar with that.
Can you give me...
We will get back to you.
Um,