The Sacramento Bee is reporting that the Sacramento Housing and Redevelopment Agency misused millions of dollars in stimulus funds that were supposed to help fix vacant and foreclosed homes, according to a federal watchdog.
From The Bee:
The agency misspent more than $1.1 million on ineligible properties and costs – money SHRA might need to repay – and has budgeted another $5.3 million that should be redirected, according to an audit by the U.S. Department of Housing and Urban Development’s Inspector General.
The money either went to or was budgeted for rehabbing eight fourplexes at Lerwick Road and another eight four-unit properties at Arcade Circle. EPO Development owns all of the properties.
Read the entire story here.