Over 90% of NY capital project financing comes through public authorities selling bonds. Bonds/debt aren’t inherently bad. Like all tools, it depends on how they’re used. Without bonds large scale public projects are literally impossible.
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It could have access to more generous federal subsidy programs (increasing the federal public operative subsidy to NYCHA by several billion a year), and give NYCHA the capacity to issue bonds/take on debt 2/3
The Trust is proposed State law. RAD (Rental Assistance Demonstration) is a federal program that has been used to convert 100s of thousands of public housing units across the country to private management. 3/WAY MORE THAN 3
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There are different RAD rules in every housing authority that implements it. The lowest-common-denominator rules (federal rules) are QUITE BAD include full transfer of the properties to private real estate. 4/
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In NYC, NYCHA residents fought for and won *very strong* resident protections in RAD (in NYC, it's called "PACT.) If RAD happens in NY, it sucks, but tenants have won really strong protections (if it happens! But it still sucks! If it does!) 5/
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