Your guide to NYC's public proceedings.
AGENCY TESTIMONY
Potential federal budget cuts and their impact on NYCHA
2:39:32
·
57 sec
Lisa Bova-Hiatt discusses the serious challenges presented by the President's Top Line Budget proposal, which includes significant cuts to HUD funding and potential changes to housing assistance programs.
- HUD faces a potential $33 billion cut, with $26.7 billion coming from public housing and housing voucher programs
- New regulations may include time limits on rental assistance and changes to funding distribution
- NYCHA is closely monitoring the situation and will adapt its financial planning accordingly
Lisa Bova-Hiatt
2:39:32
However, the recently released President's Top Line Budget prevents presents serious obstacles to these efforts.
2:39:41
Under the proposal, HUD would see a nearly $33,000,000,000 cut with $26,700,000,000 coming from a combination of the public housing and housing voucher programs.
2:39:57
These cuts would come with new regulations such as a two year time limit on rental assistance for able-bodied adults and a shift from formula based funding to block granting states with the expectation that local governments would share the cost in funding rental assistance.
2:40:18
NYCHA is monitoring this evolving situation closely and our financial planning and budget will adapt to the specific figures for each program once they are released.