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Q&A
NYCHA's vacant unit readiness program and renovation targets
1:58:07
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Council Member Chris Banks inquires about NYCHA's vacant unit readiness program, its targets, and funding. NYCHA officials provide updates on their progress and explain budget fluctuations.
- NYCHA exceeded its target by turning over 4,000 units last fiscal year, a 52% increase from the previous year
- About 60% of move-ins are transfers, creating new vacancies
- The budget for vacant unit readiness shows a decrease from $67.9 million in FY2025 to $43.3 million in FY2026 due to rollover funds
Chris Banks
1:58:07
When it comes to a vacant unit readiness, NYCHA's vacant unit readiness program helps prepare and rehabilitate NYCHA units for new tenants.
1:58:17
The administration has moved successive rounds of funding for the to the capital budget to generate expense savings.
1:58:25
As of February, there were 5,577 NYCHA apartments.
1:58:33
NYCHA had previously shared it wants to target 3,000 units for renovations annually.
1:58:42
Where are you against that target year to date in the fiscal year twenty twenty five?
Eva Trimble
1:58:48
Thank you, council member.
1:58:49
I'm happy to report that we exceeded that target by turning over over 4,000 units last fiscal year, 52 increase from the previous year.
Chris Banks
1:58:58
Okay.
1:58:58
And how many will will still be be needed to be unrenovated at the end of the fiscal year?
Eva Trimble
1:59:07
I can't give an exact estimate because as I said, about 60% of our our move ins are transfers, so it creates another vacant upon move in.
1:59:17
And so we are working to increase our production as best as possible.
Chris Banks
1:59:20
Okay.
1:59:20
And are you working with the Office of Management and Budget on any additional certificates to proceed with the CPS for capital projects?
Annika Lescott-Martinez
1:59:30
Yes, we continue to work with our colleagues at OMB.
1:59:34
We actually updated our CP for this program recently to be able to unlock the additional capital funds and we will do that going forward as well as they increase our funding.
Chris Banks
1:59:44
Okay.
1:59:44
The total funding in NYCHA adapted a financial plan for vacant unit readiness is 67,900,000.0 in fiscal year twenty twenty five.
1:59:55
However, the funding drops to 43,300,000.0 in fiscal year twenty twenty six.
2:00:02
What's the reason for this drop?
Annika Lescott-Martinez
2:00:04
So what you're actually seeing there is a bit of a rollover in fiscal year twenty twenty five.
2:00:11
So any unspent funds for '24 get added to the '25 budget.
2:00:14
We of course endeavor as Eva mentioned to increase our productivity and continue to turn over units but every unit that you turn over because of the transfers creates another vacant unit.
2:00:24
So we will just continue to work diligently to expedite our productivity and our processing and if we need additional funds we will work with our city partners and they've been very generous and receptive.