New York City Department of Housing, Preservation and Development

Oversight of Mitchell-Lama Housing Development Reserve Accounts (Follow-Up Review)

The New York City Department of Housing Preservation and Development oversees the operations of 56 public housing developments built under the Mitchell-Lama Law. In our prior audit report A-9-94, we found that reserve accounts for future repairs and capital improvements were inadequately funded at many of the developments. As a result, New York City could be asked to provide additional funds to these developments for necessary repairs and replacements. We recommended that certain actions be taken to provide assurance that reserve accounts were adequately funded. In our follow-up review, we found that some of our recommendations have been implemented, but other recommendations have not been implemented.

For a complete copy of Report 97-F-1 click here.