Auditor to Examine Housing Development Commission

1 decade 2 years 6 months ago Wednesday, April 05 2006 Apr 5, 2006 Wednesday, April 05, 2006 1:06:41 PM CDT April 05, 2006 in News
AP-MO--Housing Audit Auditor to examine state's housing development commission SPRINGFIELD, Mo. (AP) -- The state will audit the Missouri Housing Development Commission to find out how a low-income housing tax credit can be better used. The Springfield News-Leader has reported that every dollar spent for the credit yields less than 40 cents' worth of affordable housing. State Auditor Claire McCaskill says that gap seems too wide. The tax credit is used as incentive for developers to build affordable housing. But the structure of Missouri's program sends much of the money to bankers, investors and other middlemen. McCaskill's audit will take about six months to complete. (Copyright 2006 by The Associated Press. All Rights Reserved.) AP-NY-02-22-06 1755EST

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