http://www.nytimes.com/2010/10/25/nyregion/25repairs.html?_r=2&pagewanted=2&hp
Sunday, October 24, 2010
Public Housing Repairs Can’t Keep Pace With Demand
A major issue currently presenting itself in places like New York City and the rest of the country is the condition of public housing. Public housing is falling apart and federal money has been unable to keep up with repair needs of aging buildings. Agencies sold or torn down decrepit properties over the last 15 years, as 150,000 public housing units have been lost. David Lipsetz, a senior adviser in the Office of Public and Indian Housing with the Department of Housing and Urban Development believes that it will take over $32 billion to rehabilitate the nation's buildings. In response, a bill has been drafted that would allow housing agencies to borrow public and private money while using their land and buildings as equity in order to finance repairs. There is no doubting that this is a major issue as it is clear that the quality of living in many cities around the country is declining as a result of the economic climate.
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It is always good to see that there are advances being made in creating a better standard of living in communities that are not as well off as their counterparts in the state. Upholding this type of 'quality' is not only a benefit for the city at hand but also for the state itself, as it raises the population, which will also increase state tax revenue. This is a smart investment, one that should probably be implemented more often in depressed areas.
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