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Q&A
Updates on NYCHA's vacant unit readiness program
0:28:50
ยท
63 sec
Chair Chris Banks inquires about the allocation of funds for NYCHA's vacant unit readiness program, negotiated as part of the City of Yes initiative.
- $200 million in capital funds was committed to support vacant unit readiness and Section 8 repairs.
- $175 million was specifically committed to ready vacant units, with $75 million allocated for fiscal years 2025 and 2026.
- Lescott-Martinez reports $111 million allocated for the Vacant Unit Readiness Program in city fiscal years 2025 and 2026.
- Eva Trimble, NYCHA's Chief Operating Officer, reports a 24% increase in vacant unit production in 2024.
- NYCHA is now turning over approximately 430 units per month.
Chris Banks
0:28:50
Can you explain when the council can see these funds added?
Annika Lescott-Martinez
0:28:54
Sure.
0:28:55
So I can't speak to the process of OMB adding the funds but I can tell you that for the Vacant Unit Readiness Program we have a hundred and 11,000,000 in city fiscal year '25 and '26 and through the five year horizon we have a hundred and $93,000,000.
0:29:11
So we're working pretty diligently on that program and Eva can speak more to that if you'd like.
Chris Banks
0:29:18
Yes.
0:29:20
Thank
Eva Trimble
0:29:21
you, council member.
0:29:22
I know we've had many conversations here about our vacant unit production, and I'm very happy today to share that in 2024, our production was 24% higher than the previous just over 4,000 vacant unit move ins in calendar year 2024 and again that's 52% higher.
0:29:42
So as we've stated in these hearings, we've been laser focused on this program and turning that around.
0:29:49
We are doing now approximately 430 turnovers a month.