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VI Housing Finance Authority faces questions over HOME funds, slow spenddown and first‑time buyer program
Summary
HFA officials told senators the agency has plans and budgets for remaining HOME and homeowners assistance funds but could not provide full details in the hearing; senators pressed why multi‑million dollar local first‑time buyer appropriations remain largely unspent and asked for written plans.
VI Housing Finance Authority officials told senators they have budgets for remaining homeowner assistance and HOME‑ARP funds and that subrecipient selection for HOME‑ARP is complete, but the agency did not present a public, itemized spend plan during the session. Senators repeatedly pressed the HFA about a $4.2 million remaining balance in a homeowners assistance allocation that must be obligated by September…
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