Bill > A06925

This bill enacts the "NYCHA INVEST act", which provides $275 million in funding from the state's general fund to the New York City Housing Authority (NYCHA) to rehabilitate vacant units. The funding is divided into three batches: $25 million for 500 units with minimal damage (up to $50,000 per unit), $100 million for 1,000 units with substantial damage (up to $100,000 per unit), and $150 million for 1,000 units with major structural damage (up to $150,000 per unit). The Division of Housing and Community Renewal will oversee the funding, requiring NYCHA to submit detailed plans for each batch of units, including property details, itemized damage lists, and rehabilitation costs. NYCHA must use funds for specific repair categories, ranging from basic appliance replacements to comprehensive structural repairs. The bill mandates that NYCHA submit quarterly financial and performance reports, and the division will designate a liaison to monitor fund utilization. Any unused funds within a batch can be reallocated to other units in the same batch. The legislation aims to address the significant maintenance backlog in NYCHA's housing stock by providing targeted funding for unit rehabilitation across different levels of damage.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A6925