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AGENCY TESTIMONY
Rental assistance programs and innovative solutions
0:06:13
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NYCHA is implementing new rental assistance programs to address arrears and exploring innovative solutions for comprehensive renovations.
- Introduction of CRA program and federal HOME ARP program, providing up to $185 million for pandemic-related arrears
- $161 million in ERAP funding received, with $150 million applied to over 25,000 households
- Pursuit of innovative programs for top-to-bottom renovations and repairs
Lisa Bova-Hiatt
0:06:13
We are implementing two new and critical rental assistance programs.
0:06:18
The state's CRA program and the federal home art program, which will provide up to a hundred and $85,000,000 to cover arrears that resulted from the pandemic.
0:06:31
And thanks to our tireless advocacy in collaboration with our partners including residents and elected officials, NYCHA has received a hundred and $61,000,000 in ERAP funding from the state.
0:06:45
We have applied a hundred and $50,000,000 to over 25,000 households to date.
0:06:52
Together, these much needed programs are helping to stabilize rent arrears.
0:06:58
Rent payments constitute one third of NYCHA's operating budget and this revenue is essential for maintaining our developments and providing residents with the quality of life they deserve.
0:07:12
We are also grappling with the fact that our rapidly aging developments need about $80,000,000,000 in major repair work.
0:07:21
To address these challenges and considering the limited federal funding available, we are pursuing innovative programs that are bringing top to bottom renovations and repairs to a significant portion of our portfolio.