Nostrand Houses Will Be First to Vote on Whether to Join NYCHA Trust to Fund Repairs
Residents at NYCHA’s Nostrand Houses in the Sheephead’s Bay neighborhood in Brooklyn will be the first group of tenants to vote on whether to participate in the Public Housing Preservation Trust initiative.
The Trust, officials say, will be able to access additional funding NYCHA currently doesn’t have access to, and issue bonds to borrow money to fund capital repairs, of which the public housing system needs an estimated $78.3 billion to adequately address.
Over the next 100 days, NYCHA will hold engagement sessions so Nostrand Houses tenants can learn more about each of the ballot choices. On Nov. 8, the 30-day voting process will begin.
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