Bachus: Committee To Delve Into HUD’s HOME Investment Partnership Program
Washington,
May 23, 2011 -
WASHINGTON: Financial Services Committee Chairman Spencer Bachus announced today that the Committee will hold a hearing next week on allegations of mismanagement and waste in the HOME Investment Partnership Program administered by the Department of Housing and Urban Development (HUD).
HOME is HUD’s largest federal block grant program for affordable housing projects. A recent series of investigative reports in the Washington Post disclosed that some $400 million has been awarded to nearly 700 housing projects that have been abandoned or stalled for years, and that HUD has routinely failed to conduct oversight of the program.
“These published reports of waste, fraud and abuse are disturbing to say the least,” said Chairman Bachus. “It appears hundreds of millions of taxpayer dollars have been squandered. As the Committee with jurisdiction over HUD, this hearing will help us get to the bottom of what is happening and what needs to be done to fix it.”
The Committee’s hearing will take place on Tuesday, May 31 at 2 p.m. in room 2128 Rayburn.
Witnesses for the hearing will be announced at a later date.
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