( NYC ) City housing agency faces $98M shortfall

Crains - New York ^ | March 27, 2015 | Amanda Fung

[george76]

The beleaguered New York City Housing Authority said it faces a $98 million budget gap this year that will grow to $400 million by 2025

...

the "financial model for pubic housing is unsustainable."

Meanwhile, the Daily News also reported that NYCHA sold off supplies that were needed for repairs and cleanup at its complexes across the city.

[Dilbert San Diego]

Maybe de Blasio can raise taxes to cover the shortfall????

[OttawaFreeper]

Why don’t they go to Chuck Schumer and his buddies on Wall Street with cap in hand? I thought people like that cared so much about others that this sort of situation would not take place in New York City.

[kearnyirish2]

He has made it clear he wants more affordable housing; is he trying to get people out of city housing into private stock (with Section 8 money)?

[Balding_Eagle]

NYCHA sold off supplies that were needed for repairs and cleanup at its complexes across the city.

The equivalent of laying off firefighters and police first.

[GeronL]

Section 8 in NYC is more than avg people earn in other states

[relictele]

The problem with socialism etc. etc.

[Sooth2222]

New York City had an estimated population of 8,491,079 as of 2014.

That huge shortfall works out to only $11.54 per city resident.

[lowbridge]

I recall former nyc mayor bloomberg mentioning the fact that out of 8+ million residents, 60 percent of the citys tax revenues come from only around 40 thousand of the citys residents.

[Calvin Locke]

NYCHA sold off supplies...

Following the links, no central purchasing and tracking was part of the problem, and the Feds wondering why the agency had all this cash, so they bought "supplies" to burn up your tax dollars was another.

"Supplies" being rakes, mops, custodial uniforms, etc.

[Veggie Todd]

Whoda thunk giving away free stuff is expensive?

[Repeat Offender]

"financial model for pubic housing is unsustainable."

How about the financial model for public housing?

[KittyKares]

According to the following article, "the right to shelter has been implicit among the rights guaranteed by the constitution of the State of New York (though court action had to confirm it). No other city or state in Amerca offers this right as solidly and unambiguously as does New York."

http://www.newyorker.com/magazine/2013/10/28/hidden-city

Well, this costs money.

[hosepipe]

We contend that for a nation to try to tax itself into prosperity

is like:

a man standing in a bucket and trying to lift himself up by the handle.~Winston Churchill (1874-1965)

[ronnie raygun]

14 dollars to cross a bridge or tunnel in NYC

[GeronL]

Thats just crazy

[Mmmike]

This is the city that will charge you sixty-five dollars for an expired meter.