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Full-Text Articles in Law
No Pact With The Devil: Defending & Strengthening New York City’S Permanent Affordability Commitment Together (Pact) - P3, Madeline Martinez
No Pact With The Devil: Defending & Strengthening New York City’S Permanent Affordability Commitment Together (Pact) - P3, Madeline Martinez
Journal of Law and Policy
Faced with the dual threats of a federal receivership and a growing deficit of federal appropriations, in 2018, New York City Mayor Bill DeBlasio enrolled the New York City Housing Authority (“NYCHA”) into the Permanent Affordability Commitment Together (“PACT”). PACT would allow NYCHA to convert its federal Section 9 funding streams into federal Section 8 vouchers and permit the local public housing authority to enter public-private partnerships with private developers. This move would infuse NYCHA with an additional $12.8 billion in funding to counteract its roughly $31.8 billion deficit. However, immediately after the mayor unveiled his plans to pursue PACT, …