Specifically, S&P praises PHA's ability to leverage external resources in creating "attractive" new communities to replace demolished housing and its "well-conceived and aggressive strategic plans and policies." The rating service also says PHA has the most sophisticated information technology systems of any housing authority it has evaluated.
Despite its praise for the authority, S&P also sites the distressed state of housing in some sections of the city and the burden these areas of blight represent to PHA. It calls the redevelopment of some of those communities an "overwhelming task."
PHA is the biggest residential landlord in the state. It operates 15,749 family and elderly units in 44 developments, and it administers 18,000 Section 8 vouchers.
Carl R. Greene, PHA's executive director, calls the S&P report gratifying. PHA will use the report to "continue to forge partnerships with private companies on bond financing," he says, and also assist managers identify and overcome challenges.
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