File #: Res 1735-2008    Version: * Name: Congress to pass and President George W. Bush to approve a second economic stimulus package that includes $5 billion in supplemental funding for the Public Housing Capital Fund.
Type: Resolution Status: Adopted
Committee: Committee on Housing and Buildings
On agenda: 12/18/2008
Enactment date: Law number:
Title: Resolution calling upon Congress to pass and President George W. Bush to approve a second economic stimulus package that includes $5 billion in supplemental funding for the Public Housing Capital Fund.
Sponsors: Rosie Mendez, Erik Martin Dilan, Charles Barron, Gale A. Brewer, Lewis A. Fidler, Letitia James, David I. Weprin
Council Member Sponsors: 7
Attachments: 1. Committee Report 12/17/08, 2. Hearing Transcript 12/17/08, 3. Committee Report 12/18/08, 4. Hearing Transcript 12/18/08, 5. Committee Report - Stated Meeting 12/18/08, 6. Hearing Transcript - Stated Meeting 12/18/08, 7. Press Release
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
12/18/2008*Rosie Mendez City Council Approved, by CouncilPass Action details Meeting details Not available
12/18/2008*Rosie Mendez City Council Referred to Comm by Council  Action details Meeting details Not available
12/18/2008*Rosie Mendez City Council Introduced by Council  Action details Meeting details Not available
12/18/2008*Rosie Mendez Committee on Housing and Buildings Hearing on P-C Item by Comm  Action details Meeting details Not available
12/18/2008*Rosie Mendez Committee on Housing and Buildings P-C Item Approved by CommPass Action details Meeting details Not available
12/17/2008*Rosie Mendez Subcommittee on Public Housing Hearing on P-C Item by Comm  Action details Meeting details Not available
12/17/2008*Rosie Mendez Subcommittee on Public Housing Laid Over by Subcommittee  Action details Meeting details Not available

Preconsidered Res. No. 1735

 

Resolution calling upon Congress to pass and President George W. Bush to approve a second economic stimulus package that includes $5 billion in supplemental funding for the Public Housing Capital Fund.

 

By Council Members Mendez, Dilan, Barron, Brewer, Fidler, James and Weprin

 

Whereas, The New York City Housing Authority (NYCHA) is the largest public housing agency (PHA) in the country; and

                     Whereas, NYCHA has 344 projects containing 2,691 buildings spread throughout the City; and

                     Whereas, NYCHA provides affordable housing for approximately 414,000 tenants residing in approximately 180,000 apartments; and

                     Whereas, Testimony from the Chairman of NYCHA before the New York City Council on May 29, 2008, indicated that NYCHA was going to transfer $75 million from their capital budget to their operating budget to help balance a budget deficit of $195.3 million in Fiscal Year (FY) 2008; and

                     Whereas, NYCHA will receive only 81.7 cents on the dollar in federal operating subsidy in FY 2008, and has been shortchanged by $502 million in federal capital subsidies since FY 2001; and

                     Whereas, The reduction in federal funding has forced NYCHA to reallocate its existing resources and forgo needed capital repairs; and

Whereas, A recent study by the consulting firm, Parsons Brinkerhoff, estimated that NYCHA’s backlog of unfunded capital needs is approximately $6 billion; and

Whereas, NYCHA has identified $500 million in capital projects for which it would be able to quickly issue requests for bids should funds materialize; and

Whereas, A recent study by the Econsult Corporation found that for every dollar spent on capital and maintenance projects, $2.12 in economic activity is usually generated in the surrounding community; and

Whereas, NYCHA has estimated that the aforementioned $500 million in capital projects would generate $3.174 billion in economic activity in the New York City metropolitan area and, according to the New York City Building and Construction Trades Council, would result in an estimated 3,500 new jobs, some of which could be filled by public housing residents; and

Whereas, Testimony from the Chairman of NYCHA before the New York City Council on October 29, 2008, indicated that NYCHA was going to proceed with a $107 million elevator modernization program, which would replace approximately 500 elevators at 30 projects, while deferring other needed capital projects; and

Whereas, Enacting a second stimulus package that includes $5 billion in contributions to the Public Housing Capital Fund would provide NYCHA an opportunity to obtain much, if not all, of money necessary to implement its elevator modernization project without jeopardizing other needed capital repairs; now, therefore, be it

Resolved, That the Council of the City of New York calls upon Congress to pass and President George W. Bush to approve a second stimulus package that includes $5 billion in supplemental funding for the Public Housing Capital Fund.

 

LS# 6864

BJG

12/12/08