MANHATTAN, NEW YORK (BNO NEWS) – The New York City Housing Authority (NYCHA) will receive more than $400 million in public and private funding for improvements to 21 NYCHA developments and their more than 20,000 housing units, Mayor Michael R. Bloomberg, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and New York City Housing Authority (NYCHA) Chairman John B. Rhea announced on Monday.

The federal funding was approved by the Department of Housing and Urban Development for the upgrades which will create hundreds of construction jobs. The improvements include brick work, façade and roof repairs, elevator replacement, front and rear entrance renovations and heating upgrades. HUD also included the buildings into a federal subsidy program that will deliver $65-$75 million per year for ongoing maintenance.

“This transaction will generate hundreds of millions of dollars for shovel-ready work to upgrade our public housing stock and create hundreds of jobs, and – as importantly – at least $65 million in annual federal funding, which will help secure NYCHA’s long-term fiscal health. It’s a tremendous example of different levels of government and the private sector working together to get something important done,” Mayor Bloomberg said.

“HUD’s approval of this agreement and the funding the Obama administration is providing through the Recovery Act will not only help the families who live in these apartments, but will create hundreds of jobs and ensure necessary repairs can take place. This is a great day for the future of New York City’s public housing,” said Secretary Donovan.

“Residents’ long term quality of life will be improved as dedicated funding and subsidies will result in improvements in building standards and conditions, as well as service enhancements into the future,” said NYCHA Chairman Rhea.