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NYCHA head: Agency now needs $40B in repairs

Two years ago, the New York City Housing Authority said it needed $ 32 billion to repair its housing stock. That estimate has soared to $ 40 billion. NYCHA CEO Gregory Russ said on Tuesday that the 2018 estimate didn’t fully capture the costs of lead abatement, elevator replacement and other compliance costs. He noted that sometime this year the agency will release another proposal to raise additional capital, though he didn’t provide any details beyond the


The Real Deal New York

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