Statement From Governor Kathy Hochul on Passage of Legislation Creating The New York City Public Housing Preservation Trust

"This is a major win for New Yorkers who call NYCHA home. This legislation has the power to unlock additional federal funding and lead to billions of dollars in renovations — after decades of federal disinvestment — and provide for critical improvements at developments across the city. My administration has been working closely with City Hall, community groups, and local leaders to find real solutions to deliver support to NYCHA residents. The revised legislation that passed ensures there is increased resident feedback and input, giving residents at each development the power to opt in or reject participating in this program, and I am confident this process of engagement and collaboration will continue now that the bill has passed. I am grateful to Mayor Adams, Majority Leader Stewart-Cousins, Speaker Heastie and our legislative and advocate partners for collaborating on this crucial legislation and look forward to signing it into law."