Curbed NY: Funding the Orphans

Tuesday, December 15, 2009, by Curbed Staff

Twenty-one of the city's 336 public housing developments receive no federal subsidies and have been a drain on the Housing Authority's finances for years. For the last decade, the city has supported these projects by diverting nearly $1 billion from federally subsidized developments. But no longer! The city hopes to federalize the 21 orphan projects by using stimulus money and private investments to renovate them. Problem solved? Perhaps not. Some worry that the public-private scheme would open the door to privatization. [NYT]

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