New York City Employees' Retirement System, with $34 billion in assets, and the $15.9 billion New York City Police Pension Fund increased their allocations to the city's Public/Private Apartment Rehabilitation Program by a total of $70 million, said Scott Taffet, spokesman for New York City Comptroller William C. Thompson Jr., who oversees the pension funds. NYCERS raised its allocation to $517 million, and the police fund increased its allocation to $180 million. Funding came from cash.
The program provides financing for multifamily rehabilitation and new construction in low- and moderate-income neighborhoods.
