HUD ANNOUNCES NEW MONITOR TO HELP NEW YORK CITY HOUSING AUTHORITY ADDRESS CHRONIC HOUSING PROBLEMS
Bart M. Schwartz to ensure compliance with recent agreement with New York City and NYCHA

NEW YORK - U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced its intent to select Bart M. Schwartz to serve as the federal monitor to ensure the New York City Housing Authority (NYCHA) satisfies the conditions of a recently announced agreement to correct chronically poor housing conditions endured by its residents.

Schwartz is currently chairman of Guidepost Solutions, LLC (www.guidepostsolutions.com/our-experts/bart-schwartz/), and formerly served as a trial lawyer and Chief of SDNY's Criminal Division where he led prosecutions involving financial and business fraud, organized crime, narcotics, and other types of criminal activity. In his role as monitor, Schwartz will observe NYCHA's key operations, especially as they relate to lead safety, heat, pest control, and elevators, submit quarterly reports to HUD and SDNY, and engage with NYCHA's residents.

"We've found the person with the perfect experience to work with the nation's largest public housing authority under our agreement to reverse the chronic housing problems that for far too long have plagued hundreds of thousands of families," said HUD Secretary Carson. "With Mr. Schwartz's appointment, NYCHA can move full steam ahead on an action plan to improve the deplorable housing conditions being endured by its residents."

Schwartz added, "I look forward to working to achieve living conditions for NYCHA residents that are decent, safe, and sanitary. The Agreement serves as a blueprint that sets out my duties and responsibilities for achieving those goals."

After decades of failing to address poor living conditions, NYCHA agreed that a more robust federal role was appropriate. The recently announced agreement, signed by HUD Secretary Ben Carson and New York City Mayor Bill de Blasio, increases federal oversight but gives New York City the opportunity to save NYCHA from being placed into receivership by the federal government.

As Schwartz begins his role as NYCHA's monitor, HUD will continue to provide the housing agency $1.5 billion this year or $28.8 million a week. In addition, New York City is committing to invest at least $2.2 billion over the next 10 years to address NYCHA's longstanding issues. The State of New York has also announced financial support.

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