A federal monitor for the city's ailing housing authority was announced Friday.

CEO of a security and investigations consulting firm, Bart Schwartz will be the new monitor to oversee NYCHA.

The U.S. Department of Housing and Urban Development (HUD) announced Schwartz will step into the role to make sure that the New York City Housing Authority (NYCHA) is providing adequate housing for hundreds of thousands of tenants.

In a statement, Schwartz said he looks forward to working to achieve living conditions for NYCHA residents that are decent, safe and sanitary.

After decades of failing to address to poor living conditions, NYCHA agreed to have a federal monitor oversee the system.

The recent agreement signed by Housing Secretary Ben Carson and Mayor Bill de Blasio still allows the city opportunity to save NYCHA from complete federal control.

HUD will continue providing $1.5 billion this year to the housing authority.