§ 626 — Legislative findings

§ 626. Legislative findings. The legislature hereby finds and declares\nthat significant capital investment is required to design, develop,\nconstruct, reconstruct, improve, modernize, rehabilitate, and repair the\naging buildings owned or operated by the New York city housing authority\nwhich are deteriorating due to decades of diminishing capital\ninvestment. Restrictions relating to the New York city housing\nauthority's construction process, and its inability to utilize\ninnovative project delivery methods, have exacerbated its capital needs.\nA new public entity with greater flexibility to leverage capital\ninvestment and to manage the rehabilitation of these properties must be\nestablished. Repairing, modernizing, and improving New York city housing\nauthority buildings must begin immediately so that hundreds of thousands\nof New Yorkers can reside in affordable housing that is decent, safe,\nsanitary, and in good repair. Establishing a new public entity, and\ntransferring a leasehold interest in the buildings owned and operated by\nthe New York city housing authority to this new entity so that they can\nundergo the necessary rehabilitation, repair and modernization, will\nensure that these buildings continue to provide affordable housing to\nresidents of New York city for many decades into the future. It is the\nunderstanding and intention of the legislature that any building\ntransferred to this new public entity and operated by the New York city\nhousing authority shall continue to be subject to the obligations\nimposed by Maribel Baez et al. v. New York City Housing Authority, No.\n13-Civ-8916.\n