Assisted Housing: Overview of Problems at the Longwood Cooperative in Cleveland, Ohio

Pursuant to a congressional request, GAO reviewed the events surrounding the failure and foreclosure of the Longwood Cooperative, a low-income, multifamily housing project, focusing on: (1) the history of Longwood's financial and management problems; (2) why it took nearly 4 years for the Department of Housing and Urban Development (HUD) to gain possession of Longwood after foreclosure proceedings began in 1982; and (3) HUD efforts to revitalize Longwood through its resale and rehabilitation.