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Q&A
Council Member Banks inquires about Section 8 vouchers and NYCHA's budget
2:56:50
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84 sec
Council Member Chris Banks inquires about the role of Section 8 housing choice and project-based vouchers in NYCHA's budget for the current and upcoming year. NYCHA CFO Annika Lescott-Martinez provides details on the Section 8 program's budget allocation and its significance in NYCHA's operations.
- NYCHA projects $2.3 billion in support for housing assistance payments and administrative fees for the 2025 calendar year.
- The agency serves over 100,000 voucher holders and distributes $156 million in monthly housing assistance payments.
- Lescott-Martinez assures that NYCHA is currently well-funded and staffed but will continue to monitor federal developments.
Chris Banks
2:56:50
Thank you.
2:56:52
According to an analysis from the New York Housing Conference across New York State, two hundred and forty three thousand households utilize Section eight vouchers and a hundred thousand households live in section eight project based housing and a 64,000 households reside in public housing.
2:57:14
For NYCHA specifically, can you describe how section eight housing choice and project based vouchers play a role in your budget for this year and next year?
2:57:55
Okay.
2:58:14
Thank you.
Annika Lescott-Martinez
2:57:28
Sure.
2:57:28
So our Section eight program is included in our operating budget for 2025 calendar year.
2:57:35
So we are projecting $2,300,000,000 in support in the form of housing assistance payments, as well as the administrative fee that we earn as a public housing authority for administering that program.
2:57:49
We currently serve upwards of 100,000 voucher holders.
2:57:56
And on a monthly basis we push out $156,000,000 worth of housing assistance payments on behalf of those residents.
2:58:04
So it is certainly a large part of the work that we do.
2:58:07
We are well funded and well staffed at this current moment, and as we mentioned we'll continue to keep watch of what's happening in Washington.