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August 16, 2019Few if any of the requirements in the HUD deal or any of the many essential renovations at NYCHA complexes and apartments will be completed without significant financial investment. As of 2017, NYCHA projected that $32 billion is needed to properly fund the capital needs of its housing stock. Incoming Chair Russ has said it’s probably up to $45 billion now, but in his initial open letter to NYCHA employees, Russ wrote $32 billion.
“Without dramatic action, up to 90 percent of NYCHA’s 176,000 units of public housing could deteriorate to the point at which they are no longer cost-effective to repair by 2027,” according to Sean Campion, a researcher at the nonprofit Citizens Budget Commission (CBC), in testimony to the City Council’s Committee on Public Housing on November 15 of last year.
According to a CBC report, the average cost to repair a single NYCHA apartment is $181,000. If NYCHA apartments were to deteriorate at the same rate they have been, by 2027 90% of the authority’s housing stock could be designated as “very high cost” to repair, around $250,000- $300,000 each; and 8,000 units could need repairs exceeding the cost to replace the unit outright with brand new construction.
Podcast episode Education
August 13, 2019118,997 is the number of students enrolled in charter schools in NYC in 2019. That enrollment has grown 66 percent since 2014 and applications continue to surpass the number of available seats. James Merriman, CEO of the New York City Charter School Center joined the pod to discuss the politics, policies, promises, and pitfalls of charter schools.
August 13, 2019PIT revenues are a significant - and volatile - part of State and City budgets.
August 07, 2019The MTA's 2020 Preliminary Budget and four-year financial plan reveals an alarming fiscal outlook.
August 02, 2019CBC urges the MTA to reconsider the proposed rule regarding five-year debarment of contractors.
Report State Budget
July 24, 2019Six facts about the Climate Leadership and Community Protection Act, greenhouse gas emissions, energy consumption, production, regulation, and costs.
Podcast episode Education
July 19, 201998,000 is the number of seats for public school students constructed by the NYC School Construction Authority - about twice as many as in Yankee Stadium. Riley Edwards discusses alternative strategies for solving the crowding problem.
Special Feature Transportation
July 17, 2019This infographic presents a snapshot of NYC Transit's operating expenses, on-time performance, ridership, 5-year capital plans and facts about Central Business District tolling.
Statement State Budget
July 15, 2019Denise’s deep policy knowledge and decades of experience will build on CBC’s long history of excellence.
Blog Pensions & Benefits
July 12, 2019The bills would enhance benefits without providing enhanced services to taxpayers or offsetting savings.
Press Release Education
July 10, 2019CBC released a comprehensive report demonstrating how administrative solutions can reduce school crowding.
Blog Economic Development
July 09, 2019Three bills to create new economic development programs or expand existing programs passed both houses during the 2019 legislative session. The Governor should veto all three bills.
July 09, 2019Administrative solutions can reduce school crowding and limit the need to build expensive new school buildings.
Letter City Budget
July 05, 2019Creating a Rainy Day Fun fund would protect New Yorkers from potentially harmful service cuts and tax increases.
Podcast episode City Budget
July 03, 2019$3.2 billion is the amount NYC spends on homeless services, double what was spent in 2014, earning the agencies providing these services a spot on NYC Comptroller Scott Stringer's Agency Watch List. Learn more about this list and the Comptroller's assessment of the City budget, rent regulation reform, and more.
Blog City Budget
June 30, 2019The City’s spending obligations in fiscal year 2019 were $255 million greater than the revenues collected. How is this possible when State law and the City Charter require balanced budgets?
Statement City Budget
June 27, 2019Establishing commercial waste zones can increase efficiency in collection, achieve substantial VMT reduction, and reduce the negative externalities.
Video City Budget
June 27, 2019At a fireside chat with CBC President Andrew Rein, NYC Comptroller Scott Stringer discussed City fiscal policy, the need for rainy day reserves, and how to promote New York City’s competitiveness, among other topics.
Special Feature City Budget
June 21, 2019The Budget Navigator is an online tool that allows New Yorkers to be their own budget watchdogs. Users can examine New York State or City revenues and expenses to determine levels of funding in recent years, analyze trends, and see how that funding compares between departments and services.
Statement City Budget
June 14, 2019The FY 2020 Adopted Budget agreement increases savings and reserves; unfortunately, new spending commitments are greater than deposits to the City’s reserves.