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1 1 (July 29, 2022)

handle is hein.amenin/aeiaejp0001 and id is 1 raw text is: Key Points * Despite reform attempts, public housing has become a modern-day poorhouse, even as sonme sites ace /ocated an extreme/y higih-va/ue propetes. * Allowing the saie oF high-vaiue sites. whiie cansuing tenants' wishes and usincg the proceeds tC support tenants' upward mobility, would unlock large frcczan real estate values and hurnan capitaL. ( iries shou a use anvyditoa revenue tram sales and calculations of likrely future tax revenue From Lh'se sites to suoport rnantenance, upkeep, and adrninistra tian of other pubuic hausing srtes whnile operatina thnose sites in 'ways thiat encourage novwand mnoO!/itv Public housing in the United States can be seen as a program or the past. The construction of new government-owned and -operated housing projects far those of low ineome largely ceased in th.e Nixon administration, replaced by housing 'hoice vouchers that allow poor households to rent in the private lons- ing market. What's more, a signinfcant number of public housing projecs have been demolished, beginning with tne not rious t-ruitt--lgoe ecumplex in St. Louis, Mis- souri, wvhch d rnaticaly imploded in t97t. Public hous- ing cOm pilees n oious tar their dangercoisness and disrepair-sich as the high-rise Robert Taylor Homes in Chicago----rio longer stand, But viewing public housing through a public policy reaview mirror overlooks the more tian 1.7 million Americans who continue to live in housing complexes owned and managed by one of the nation's 3,400 pub- lic housirg authorities.' Many are in disrepair Notabiy, the hi8 developments of tile New York City Housing Authority (NYCiA), by far the nation's largest such agency and hcnmie to some half million residents, have been estimated to need a staggering $40 billion in capital repairs. Such maintenance issues are art iroic outcome for a program-o'igninating in the Franklin. D. Roosevelt adrinistration-neant to repiace slum housing, riot replicate it or worse, What might be called the demise of the public housing dream has, si1Ce tile ig98os, proipted a series of initia- ties meant to rescue it. These have ranged from tenant management (during ithe George H. WV Bush admnin- istration) to relaement witih nxed-in come apart- m;nt complexes, including the Clintor administration's F-IE 171 lprogrami, and the current L ow- ncom.e loaus- ing Tax Credit subsidy for private dcxcl pers. To improve public housing, the HOPE L%1 prograit fourd it had to demolish 57,000 units- Results have rarged fron minxed t negative, wtn replacement, whatever its benenrs, prCVEng Costly ano benefiting a small number ot househoids 1he mtost recent initiative to salvage pubic rn 'using began in the Obama administration. The Rental Assistance Demon7- stration program eriplovs a complex fnancing schemtie that enables private develcmers to use federal. housing subsidies for tenatt to borrow rehabilitation funds, ii.

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