District Could Get More for Urban Renewal Property, but HUD Debt Will Be Repaid
Gao ID: GGD-82-32 March 8, 1982GAO was requested to examine selected aspects of the District of Columbia's urban renewal property disposition activity.
The review showed that District urban renewal property sales should generate sufficient revenues to satisfy the remaining indebtedness to the Department of Housing and Urban Development (HUD). However, GAO is not certain that the District is receiving the best possible price for such properties. Sales prices are based on appraised values and are not set through competitive bidding or public auction; awards are made based on design competition and other criteria. The District has no formal procedures for disposing of urban renewal property, although it generally follows HUD guidelines which offer local agencies substantial latitude. GAO did find some instances where HUD guidelines were not followed. The basis for selecting one developer over another is not clear, and the District's records provide little documentation in this regard.
RecommendationsOur recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.
Director: Arthur R. Goldbeck Team: General Accounting Office: General Government Division Phone: (202) 275-3641