The New York City Housing Authority, facing budgetary constraints, plans rent hikes for about 47,000 households.
The move will be the biggest change in housing authority rents since 1989, reports The New York Times. The rent hikes for the affected households, whose annual incomes range from $19,800 to as high as $100,000, could be as high as several hundred dollars a month over the next two years, said the report. The remaining 128,000 poorer households, whose rent is fixed at one third of their income, would be unaffected.
Housing authority chairman Tino Hernandez said his agency "is at a defining moment in its history," the report said. He said without a solution, the authority would deplete its reserves in less than two years.
© Copyright 2006 by United Press International
