This past weekend, the New York state budget for fiscal year 2019 was passed by the state legislature and approved by Governor Cuomo. The announcement, made yesterday in East Harlem, can be watched here. In summary,
- NYCHA will receive this year’s allocation of $250 million in addition to outstanding funding from $300 million earmarked from previous years
- An independent emergency manager is to be selected within 60 days to oversee the development and completion of a comprehensive emergency remediation plan
- Mayor Bill De Blasio, City Council Speaker Corey Johnson, and president of the NYCHA Citywide Council of Presidents (CCOP) Danny Barber are to unanimously select an independent manager to oversee the necessary remediation within 60 days of the executive order.
- Once the independent contractor is selected, the unspent portion of the state’s $550 million will be released and the independent contractor will have authority over city funds.