While NYCHA crumbles

Poor tenants in buildings crumbling around them are counting on the Housing Authority to come through with major repairs — and NYCHA told them to count on its gold mine of New York City land to leverage billions of dollars in needed funds that the federal government won’t supply. Excuse us, but what funds? Even as NYCHA launches a fresh search for a developer to lease land within its Cooper Park complex in hopping Williamsburg, Brooklyn, to build market-rate and affordable housing, and readies a similar venture on the Lower East Side, a full year has elapsed since developers submitted bids for other projects in the Upper East Side’s Holmes Towers and Brooklyn’s Wyckoff Gardens.

In 2015, NYCHA’s NextGen rescue plan projected reaping up to $600 million by 2025 through such development deals, amounting to potentially billions by issuing long-term bonds.

Not a dollar has yet changed hands. No lease anywhere has yet been signed.

NYCHA in May announced selection of a Holmes developer even as negotiations over details continue — and elected officials who should know better, notably Rep. Carolyn Maloney, demand concessions that would drain the very funds NYCHA needs to raise.

Meanwhile, NYCHA has yet to pick a developer for Wyckoff Gardens, snubbing millions to be made in the boom transforming the Gowanus area.

At this snail’s pace, and with more federal budget cuts looming, tenants will be suffering for years to come.