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HUD's new town aid program curtailed nationwide
HUD has shut down the planned new towns program with no notice, limiting funds to existing projects like Riverton near Rochester. More than $300 million in federally guaranteed bonds helped finance 15 towns, while investigations seek to assess finances and management as critics call the effort socialism for the rich. Congress is expected to press for justification of the cut, though a limited future program remains possible.
MENTIONED IN THIS ARTICLE
Ernest Holsendolph
N.Y
Washington
Department of Housing and Urban Development
Rochester
Riverton
HUD
Congress
Department
UPI
Council On Economic Priorities
CEP
Milan Laboratories
SmithKline
Pfizer
Parke- Davis
Squibb
Lederle
C. Joseph Stetler
Pharmaceutical Manufacturers Association