N.Y. Public Housing Law § 626: Legislative findings

§ 626. Legislative findings. The legislature hereby finds and declares

that significant capital investment is required to design, develop,

construct, reconstruct, improve, modernize, rehabilitate, and repair the

aging buildings owned or operated by the New York city housing authority

which are deteriorating due to decades of diminishing capital

investment. Restrictions relating to the New York city housing

authority's construction process, and its inability to utilize

innovative project delivery methods, have exacerbated its capital needs.

A new public entity with greater flexibility to leverage capital

investment and to manage the rehabilitation of these properties must be

established. Repairing, modernizing, and improving New York city housing

authority buildings must begin immediately so that hundreds of thousands

of New Yorkers can reside in affordable housing that is decent, safe,

sanitary, and in good repair. Establishing a new public entity, and

transferring a leasehold interest in the buildings owned and operated by

the New York city housing authority to this new entity so that they can

undergo the necessary rehabilitation, repair and modernization, will

ensure that these buildings continue to provide affordable housing to

residents of New York city for many decades into the future. It is the

understanding and intention of the legislature that any building

transferred to this new public entity and operated by the New York city

housing authority shall continue to be subject to the obligations

imposed by Maribel Baez et al. v. New York City Housing Authority, No.

13-Civ-8916.