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Q&A
Discussion on vacant unit readiness funding and plans
3:08:21
·
106 sec
Council Member Chris Banks inquires about the increased funding for vacant unit readiness from both the city and state budgets. NYCHA representatives, including CFO Annika Lescott-Martinez, discuss the allocation of funds and the process of working with state partners to implement the new funding.
- City capital contribution increased by $39 million, with an additional $25 million from the state budget
- NYCHA uses city capital for asbestos and lead abatement, supplies, and related work
- This is the first time NYCHA is receiving funding for vacant units from the state
Chris Banks
3:08:21
When it comes to vacant units, the executive capital commitment plan increases funding for vacant unit readiness by 39,000,000 to bring the total city capital contribution.
3:08:37
The state budget also includes 25,000,000 for rehabilitating and returning vacant units to occupancy.
3:08:45
This appropriation will be pursuant to a plan approved by the state director of budget.
3:08:51
Can you give us a preview of what this plan will entail and have these conversations already started, and are you concerned that the state approval will hamper the spread at which you can use these funds, these new funds for.
Annika Lescott-Martinez
3:09:09
Thank you council member.
3:09:11
We again are very grateful for the funding and support of our vacant unit readiness program from both the state and the city.
3:09:18
As you mentioned, we have a hundred and 50,000,000 over the next two years from the city across the expense and capital budgets.
3:09:25
We currently use that city capital for the asbestos, lead, abatement, supplies and related work.
3:09:34
And on the expense side we use it for staffing and additional supplies and vendor contracts.
3:09:41
And it varies you know project to project.
3:09:44
We, as Sean mentioned, when it comes to state funding we work closely with all of our state partners to get the funding executed.
3:09:50
It is certainly new for the state to provide funding like this, so it'll be the first time that we are receiving funding for vacant units from the state.
3:09:58
But I think given you know our great track record with the city, we will probably have a similar plan and we can speak to specifics once we get into it.