BROOKLYN - The New York City Housing Authority will receive around $300 million in funds from federal and private sources.
The funds will go toward renovating and maintaining more than 20,000 public housing units. Private funds make up the majority of the aid at $210 million. Federal funds will provide an additional $65 to $75 million.
The Housing Authority says a limited, private partnership was the only way to obtain funds. Authority Chairman John B. Rhea said he is confident rents will not increase as a result.
AP wires contributed to this story