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[Request for Decision as to Legality of Loans Under 12 U.S.C. 1701q]

B-216006: Oct 31, 1984

A GAO decision was requested as to the legality of loans under the Housing for the Elderly and Handicapped Program for seven projects which had previously been approved by the Department of Housing and Urban Development (HUD). The question arose as a result of inquiries made by GAO to the HUD Chicago Regional Office concerning identity-of-interest questions about six of the seven projects and whet...

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B-216006, OCT 31, 1984, 64 COMP.GEN. 38

B-216006: Oct 31, 1984

PROHIBITED IDENTITY OF INTEREST WAS INVOLVED IN SIX OF THE SEVEN PROJECTS. A SERIOUS QUESTION ABOUT THE FINANCIAL RESPONSIBILITY OF THE SEVENTH BORROWER WAS ALSO RAISED. HUD CERTIFYING OFFICIALS ARE ADVISED THAT NO EXCEPTIONS WILL BE TAKEN BY GAO TO PAST OR FUTURE DISBURSEMENTS UNDER THESE LOANS IF HUD TAKES THE ACTIONS IT PROPOSES TO CURE THE CONFLICT OF INTEREST DEFICIENCIES AND TO VERIFY FINANC...

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[Questions Concerning Housing for the Elderly and Handicapped Projects]

B-216006: Published: Sep 27, 1984. Publicly Released: Sep 27, 1984.

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