Investigation Uncovers String of HUD Failures
U.S. Department of Housing and Urban Development has supported roughly 700 affordable housing projects around the country that have never been completed, some stalling out for over a decade.
A Washington Post investigation reveals that over $400 million has been handed to developers to create affordable housing with no payoff, and with little HUD oversight to track the failures
Debbie Cenziper and Jonathan Mummolo at the Post write:
"The yearlong investigation uncovered a dysfunctional system that delivers billions of dollars to local housing agencies with few rules, safeguards or even a reliable way to track projects. The lapses have led to widespread misspending and delays in a two-decade-old program meant to deliver decent housing to the working poor."
The Post also features a slideshow of failed developments around the country.
Full Story:
Published on Monday, May 16, 2011 in
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