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    Public Housing Committee Holds Oversight Hearing on NYCHA Private Investment

    Oversight  •  Citywide
    The City Council holds an oversight hearing on NYCHA's public-private partnership agreement. Image credit: CityLand

    The City Council holds an oversight hearing on NYCHA’s public-private partnership agreement. Image credit: CityLand

    NYCHA Chairwoman Shola Olatoye answered questions on the Triboro Preservation Partners agreement.  On February 10, 2015 the City Council Committee on Public Housing held an oversight hearing on Triborough Preservation Partners, a public-private agreement between the New York City Housing Authority, L+M Development Partners, and BFC Partners. The venture was designed to rehabilitate six of NYCHA’s Section 8 properties containing nine hundred units: Bronxchester Houses, Saratoga Square, Campos Plaza, Milbank-Frawley, East 4th Street, and East 120th Street.  Under the terms of the agreement, L+M and BFC own a fifty percent stake in the properties over the next thirty years.

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    Tags : City Council, Committee on Public Housing, Council Member Donovan Richards, Council Member Laurie Cumbo, Council Member Ritchie Torres, Council Member Rosie Mendez, NYC Public Advocate Letitia James, NYCHA, Shola Olatoye, Triborough Preservation Partners
    Date:02/11/2015
    Category : City Council
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