FOR IMMEDIATE RELEASE: Thursday, October 1, 2015
, (212) 306-3322 NYCHA ANNOUNCES PROGRESS, MORE TRANSPARENCY IN FIRST 100 DAYS OF NEXTGEN NYCHA NextGen strategies moving NYCHA towards financial stability, more efficient operationsNEW YORK—
Marking NextGeneration (NextGen) NYCHA’s first 100 days, New York City Housing Authority (NYCHA) Chair and CEO Shola Olatoye announced progress, major achievements and reforms since the Authority’s 10-year strategic plan was launched in May. Facing the worst financial crisis in NYCHA’s history, the Authority continues to launch targeted strategies each month with the goal of improving resident quality of life and preserving public housing for this and future generations. With increased transparency, infrastructure improvements, and stakeholder engagement, NYCHA is taking meaningful steps to change the way it does business and become a more modern, effective and efficient landlord to more than 400,000 New Yorkers.
“Since launching this spring, we’ve been working to make the NextGen vision a reality,” said NYCHA Chair and CEO Shola Olatoye. “NextGen is about using every tool available to keep NYCHA open for business—each strategy is about increased accountability, preservation and getting NYCHA’s fiscal house in order. Over the past few months, we’ve seen considerable progress and there is more work that must be done to become the landlords our residents deserve.”
The goal of NextGeneration NYCHA
is to stabilize, preserve and revitalize public housing. By cutting costs, instituting modern and effective management practices, and targeting new sources of revenue, over ten years the plan’s 15 strategies will both reduce NYCHA’s capital needs by $4.6 billion and produce an operating surplus.