Chicago and New Orleans have come together for a great cause - affordable housing. Federal Home Loan Banks, and their member financial institutions, can lend a hand to local public housing authorities across the country to create more affordable housing opportunities. The nation will still have to pay attention to the next round of needs: rebuilding, development, the impact of major population shifts on housing markets. That's where housing authorities really come into play.
The largest public housing authority in the nation, The Housing Authority of the City of Los Angeles is a State-chartered public agency that provides the largest stock of affordable housing in the Los Angeles area. The Housing Authority gets the majority of its funding through the United States Department of Housing and Urban Development. Public housing authority in the city of New York is the largest public housing authority in North America. The New York City Housing Authority provides decent and affordable housing in a safe and secure living environment for low- and moderate-income residents. NYCHA works to enhance the quality of life by offering the residents opportunities to participate in community, educational and recreational programs, as well as job readiness and training initiatives.
As for Chicago, its public housing authority is planning to rebuild and modernize the nation's third-largest public housing system. The city's public housing is undergoing a thorough renewal. 25,000 apartments for families and senior citizens are being redeveloped or rehabilitated. The city's housing authority is creating new mixed-income communities by the isolation of public housing residents, for people of all economic backgrounds to live as neighbors.
To ensure its success, public housing authorities need every member of the community working along.