NYC to waive $30M public housing payment
Mayor Bill de Blasio is poised to announce that New York City will waive an annual $30 million payment it is owed from the city’s public housing authority, and the move is shedding light on the precarious future of the aging development that is home to more people than the city of New Orleans.
De Blasio will announce the elimination of the payment, issued every year since 1949 as a “Payment in Lieu of Taxes,” as part of his executive budget presentation on Thursday, city officials told The Associated Press. That decision will save the New York City Housing Authority approximately $130 million through fiscal year 2019.
“This administration has consistently made NYCHA a priority, with a clear vision to both repair buildings and serve NYCHA residents who deserve better,” de Blasio told the AP in a statement. “This means using every tool we have to expand resources and support for NYCHA.”