• The capital needs working group is tasked with estimating the capital investment needed to recapitalize, preserve, and improve the public housing portfolio on a long-term, sustainable basis. The working group has developed a methodology that uses existing, publicly available data to estimate the hard construction costs to modernize the remaining public housing portfolio. 

    Goals

    • Estimate the capital needs for a sustainable public housing portfolio 

    • Determine an appropriate standard for estimating capital needs by using a market standard consistent with other affordable housing programs 

    • Examine the broader scope of capital needs that are not included in previous capital needs estimates such as energy efficiency, climate resilience, disaster preparedness, environmental abatement, and more 

    Approach 

    • Compile data on characteristics associated with hard construction costs for RAD conversions from 2018 onwards and remaining public housing 

    • Compare differences across RAD and public housing developments 

    • Run a regression model to identify associations between hard construction costs and development characteristics for RAD conversions post-2018 

    • Two models will be run: NYCHA only and excluding NYCHA 

    • Apply model equation to public housing stock to estimate baseline hard construction costs to modernize the public housing stock 

    • Test the model by comparing model projections to a convenience sample of development-level capital needs estimates 

  • The financing tools working group will assess the potential of existing and new financing sources that can meet the capital needs estimate generated by the capital needs working group. This working group will examine tax credit tools, debt tools, rent and subsidy structuring, green and resiliency tools for energy efficiency, climate resilience, disaster preparedness, environmental abatement, and other tools.  

    Goals

    • Examine the impact, effectiveness, and gaps in the current recapitalization tools and resources  

    • Determine scalable financing options to meet the capital needs 

    • Recommend changes in statutes, regulations, and practice to improve current tools 

    • Investigate new financing models such as green banks, public housing trusts, and local bond issuance  

    Approach

    • Create subgroups focused on tax credit equity, debt tools, green and resiliency financing, rents and subsidy structuring, and other tools 

    • Answer three main questions: 

      What resources currently exist to rehabilitate or redevelop the nation’s public housing stock? 

      How could the existing resources be better utilized or aligned to meet more of the need? 

      What new tools are needed to bring solutions to scale?  

  • Public housing residents have unmet health, education, and other social service needs contributing to disparities that affect long-term life outcomes. Every individual and family should have access to the supports needed to address these inequities. Most of these supports are funded and administered outside the housing sector. This working group will focus on how to expand cross-sector partnerships to improve resident life outcomes.  The working group will assess the need, available resources, and gaps in the education, health, and digital equity sectors.  

    Goals

    • Identify policies and practices that embed connections to health, education, and job opportunities within public housing recapitalization plans 

    • Examine how Medicaid/Medicare funds can be used for health, wellness, and community support in coordination with preservation strategies 

    • Examine how early childhood education, out-of-school time, literacy, and postsecondary education supports can be embedded and funded in preservation strategies 

    • Estimate the health and education costs of disinvestment in the public housing program 

    Approach

    • Creating subgroups focused on education, health, and resident engagement 

    • Answer main questions:  

      What are the current conditions? Do we have adequate needs assessments?  

      What resources are currently available?  

      How could the existing resources be better utilized or aligned to meet more of the need?  

      What new tools are needed to bring solutions to scale?   

      What relevant research exists on impacts and cost-benefit for low-income individuals and families generally and how can we develop data and modeling of the impact specific to PHA residents?  

      How can we facilitate data sharing both on the community level as well as federally?  

      What is the role of digital equity in each sector?