Say It Ain’t So!

This is exactly why I demanded universal accountability in my series on the budget:

Million-Dollar Wasteland: A Washington Post Investigation
A trail of stalled or abandoned HUD projects

The federal government’s largest housing construction program for the poor has squandered hundreds of millions of dollars on stalled or abandoned projects and routinely failed to crack down on derelict developers or the local housing agencies that funded them.

Nationwide, nearly 700 projects awarded $400 million have been idling for years, a Washington Post investigation found. Some have languished for a decade or longer even as much of the country struggles with record-high foreclosures and a dramatic loss of affordable housing.

Why is HUD legally unable to demand repayment when a development plan falls through? That just makes no sense to me at all.

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