NYCHA board sitting on nearly $1B in fed cash
They earn close to $200,000 a year, ride in city-owned
cars, live in tony Manhattan apartments — and are sitting on hundreds of
millions of dollars intended to benefit low income New York families.
The New York City Housing Authority and its board members
have failed to spend nearly $1 billion that it has been hoarding since 2009 to
make life more livable for the 400,000 residents of its 334 developments, the
Daily News has learned.
The money from the federal government is supposed to
repair leaky roofs, broken elevators, moldy walls and busted playground
equipment in the authority’s crumbling properties.
But nearly half of the unspent dollars — $485 million —
has been sitting untouched in NYCHA’s accounts for at least two years.
Some of it — $233 million — dates back to 2009 as the
agency continues to spend its money at a glacial pace.
Meanwhile, NYCHA’s highly paid board members are unable
or unwilling to explain how they’ve left so much money to basically collect
dust.
And Mayor Bloomberg, who appointed all four members of
the board, has refused repeated requests for comment over several days.
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