Cuomo Says HUD Housing "Good Investment"

Housing and Urban Development Secretary Andrew Cuomo today marked completionof HUD's first-ever, nationwide inspection of all 29,000 HUD-assisted multifamily housing complexesby honoring owners of properties that passed inspection with the highest scores.The inspections of more than 29,000 privately-owned, HUD-assisted complexes were completed byHUD's Real Estate Assessment Center earlier this year. Some 87 percent of the properties were foundto be in excellent or good condition. Only 1.6 percent of the properties - about 530 complexes - werein condition requiring that they be referred to HUD's new Enforcement Center for immediate remedialaction. "Today we are slaying a stereotype," said Cuomo. "Talk to our critics and they'll say HUD housingisn't fit for humans. But they're wrong. Take an objective, nationwide look as we have done and you'llsee that 87 percent of our assisted complexes are in excellent or good condition, are a goodinvestment for owners, taxpayers and the residents who call these complexes home.

Thanks to Abhijeet Chavan