Audit seeks better safeguards, rules for Hardest Hit Fund – Northern Michigan’s News Leader : Loan Modification Key

Audit seeks better safeguards, rules for Hardest Hit Fund – Northern Michigan’s News Leader

Audit seeks better safeguards, rules for Hardest Hit Fund – Northern Michigan’s News Leader

 

The report released Thursday by a special inspector general says the $622 million fund "is significantly vulnerable to the substantial risks of unfair competitive practices and overcharging, either of which could lead to fraud, waste, and abuse."

 

Money from the fund is used by communities to tear down vacant houses and other blight elimination efforts. More than $381 million in blight elimination funds has been steered to Michigan. Detroit has been allocated about $258 million of that amount.

Federal investigators have requested records from Detroit on federal funds used for blight removal. More than 8,000 vacant houses have been demolished in the city over the past two years.

 

 

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