BREAKING NEWS: SIGTARP ALERTED TREASURY THAT THE TARP’S Hardest Hit Fund IS BEING ABUSED…

first_imgSIGTARP ALERTED TREASURY THAT THE  TARP’s HAREST HIT FUND IS BEING ABUSED IN INDIANA“Last month, SIGTARP alerted UNITED STATES TREASURY that the TARP’s Hardest Hit Fund (HHF) was being abused in Indiana by funding the demolition of lived-in homes, instead of abandoned houses.”PLEASE SEE link of this report posted below.  Refer to pages 41-51 of this report.  https://www.sigtarp.gov/Quaryrtly%20Reports/January 28 2016Report to Congress.pdfBELOW IS AN EXCERPT OF THE REPORT SEENT TO THE UNITED STATES CONGRESS IN DECEMBER, 2015RECOMMENDATIONS RELATED TO TARP-FUNDED DEMOLITIONS OF LIVED-IN HOMESOn December 14, 2015, SIGTARP issued a letter alerting Treasury to SIGTARP’S finding that HHF Indiana selected and approved for TARP-funded demolition 18 homes where people lived, rather than the vacant and abandoned houses (so-called zombie properties) that Treasury intended.These homes were chosen for demolition under HHF because they were on the desired relocation site of a car dealership in Evansville, Indiana. SIGTARP made three recommendations:A)  Treasury should immediately direct state housing finance agencies that they should not allow the Hardest Hit Fund to be used strategically to selectB)  Lived-in residences for demolition, and should instead be used solely to select zombie properties for demolition.Todays “Readers Poll” question is “Do You Believe DMD Director Kelley Coures Assertions That The Feds Are Not Doing An Investigation But An Audit of TARP Funds”?Copyright 2015 City County Observer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.FacebookTwitterCopy LinkEmailSharelast_img

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