Mayor Launches 10-Year Plan for NYCHA 'Crisis'

The New York City Housing Authority is getting an overhaul. Mayor de Blasio is launching a ten-year plan called NextGeneration NYCHA to repair aging buildings and stabilize the agency's finances.

At a press conference Tuesday, the mayor said NYCHA needs immediate attention from the city, and from the state and federal government.

"This is at this moment the worst financial crisis in the history of NYCHA," he said. "That's what these years of financial disinvestment have taken us to."

De Blasio said the agency could be facing a $2.5 billion deficit over the next ten years, along with almost $17 billion in unmet repairs for that period.

"We've got to have a better quality of life for our residents. It's long overdue. And we have provide more service, we have to provide better and faster repairs," the mayor said.

De Blasio said NextGeneration NYCHA will focus on increasing revenue and making widespread repairs. Key measures include replacing damaged roofs, reassigning 1,000 NYCHA employees to other city agencies, improving rent collection, and boosting parking costs.