Job Description

On June 16, 2022, Governor Kathy Hochul signed the NYC Public Housing Preservation Trust Act, which authorized creation of the NYC Public Housing Preservation Trust (the Trust). The Trust is a public benefit corporation that will oversee the renovation and rehabilitation of the city’s public housing developments, owned by the New York City Housing Authority (NYCHA). NYCHA remains permanent owner of the land/buildings and enters into a long-term ground lease with the Trust to secure a Section 8 rental subsidy contract with significantly higher value than NYCHA’s current federal subsidy. Using the rental subsidy contract, the Trust will raise financing to fund comprehensive building renovations. The Trust Act provides the Trust with the ability to convert up to 25,000 units, subject to a vote by the residents of a potential redevelopment site. No NYCHA site can convert to the Trust without a positive vote of the site’s residents. To date, residents at four develo...