A state oversight panel has approved the sale of more than $227 million in bonds to repair two dozen New York City public housing buildings that were damaged by Superstorm Sandy four years ago.
The Daily News reports the Public Authorities Control Board authorized the move on Tuesday for repairs at the city Housing Authority’s Ocean Bay Apartments in Queens.
Jolie Milstein, president of the New York State Association for Affordable Housing, says her organization is grateful that the bond approval will finance thousands of affordable units.
The Public Authorities Control Board is run by Gov. Andrew Cuomo and leaders in the state Legislatures.
Cuomo on Tuesday also announced nearly $8 million in funding for the rehabilitation of 295 owner-occupied homes statewide.