A settlement that is being negotiated between the United States attorney’s office in Manhattan and the New York City Housing Authority could force the city to shell out $1 billion and agree to a federal monitor that will oversee the agency, reports the New York Times.
Citing “two people familiar with the negotiations” as their source, the Times notes that while the settlement is being finalized and is awaiting approval from the two parties, it could put an end to the federal government’s investigation into housing conditions at NYCHA developments if approved. The two major components of the settlement that have been agreed upon so far are a court-appointed federal monitor and $1 billion for repairs to be spread over the next four years.
The parties are still trying to determine if a state monitor for the agency, which Governor Andrew Cuomo called for back in April, would still be necessary if a federal monitor is to be appointed. Additionally, the city could be responsible for nearly $200 million a year after the initial four years if the consent decree remains in place.
The city was supposed to select a state monitor by today, however the Times reports that the mayor, City Council speaker Corey Johnson, and a NYCHA representative have not discussed potential candidates yet.