NEW YORK CITY—Mayor Bill de Blasio andComptroller Scott Stringer have joined forces toestablish a $350 million fund to support affordable housingthroughout New York City, marking a major investment in theadministration's plan to create and preserve 200,000 units ofaffordable housing.
The capital was raised through the support of Citi, the New YorkCity Retirement Systems (consisting of the Teachers' RetirementSystem of the City of New York, New York City Employees' RetirementSystem, New York City Police Pension Fund, New York City FireDepartment Pension Fund, and the New York City Board of EducationRetirement System—collectively NYCRS), the New York City HousingDevelopment Corp.,Wells Fargo, Morgan Stanley, Deutsche Bank, Bankof America and other financial institutions.
Citi was advised in the transaction by Paul Hastings' realestate partner John Cahill and senior associates Lisa Chaney andEric Schwitzer.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
