Government Run, Run By The Government
Noun and の adjective
こうえい
もし収入がものすごく低いのであれば、安い公営のアパートに住めるかもしれませんよ。
If your income is really low, you may be able to live in a cheap public apartment.
Something that is publicly managed is something that is public aka government run. Compare this to 私営 which is private / privately run.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.