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Multimillion Dollar Losses Hit New U.S. Housing Plan
The New Communities program faces at least 150 million dollars in losses as 13 projects struggle to repay loans. Regulators plan major program changes as seven communities default. The 229 million dollars in bonds backed by the federal government may trigger further financial exposure for developers banks and local governments.
MENTIONED IN THIS ARTICLE
Reginald Stuart
N.Y. Times
Dayton
Ohio
Federa Housing
Community Development Corporation
United States Department of Housing and Urban Development
James F. Dausch
Cedar Riverside
Minneapolis
Woodlands
Houston
Newfields
New York
Gananda
Riverton
Rochester
Roosevelt Island
New York City
Radisson
Syracuse
New York State Urban Development Corporation
Europe
George Sternlieb
Center For Urban Policy Research
Rutgers University
Newfield’s
Donald L. Huber
Huber Heights
Huber
Nixon
Washington
Housing and Urban Development Department
Winters Bank
Melvin Margolies
New Communities