Mayor de Blasio announces major overhaul of NYCHA with NextGeneration plan

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EAST HARLEM, Manhattan (PIX11) -- Rats, roaches, mold, no heat and no hot water.  The list of issues plaguing more than 400,000 NYCHA residents seems endless. However, on Tuesday, Mayor Bill de Blasio said there would be a light at the end of the tunnel.

On what many hailed as an unprecedented move by the mayor, he unveiled a major overhaul of NYCHA, the agency in its worst financial position ever, he said was about to be rescued of a deep deficit in the millions.

For years, the public housing agency was allowed to fall into disrepair. Many residents forced to  live in decrepit conditions.

With Tuesday's announcement, new goals are expected to help turn around the agency.

They must:
-Secure its financial future
-Operate more effectively
-Rebuild, expand and reinvest in existing properties
-Help residents find jobs

10,000 new affordable housing units will also be built.  Only two models, the mayor said, would be followed. Either 100 percent affordable housing, meaning for families earning no more than $46,000 a year or a 50/50 model a mix of affordable and market price.

Additionally NYCHA residents will see an improved streamline and app monitoring for repairs, improvements to rent collection and raised parking fees.