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B-114860 1 (1970-08-07)

handle is hein.gao/gaobabkqz0001 and id is 1 raw text is: RKSTRiCTEM. - Nct to be released outside the General Accountig Offce except on the bas of Fpc.ftc approval : COMPTAWLO&& RL .1f~iI.. fAl .., a record c4 which is kept 12: h _0kjt i ct ~t0 lcn, Publications Branch, OAS S14860 RELEASED AUG 2 Dear Mr. Chairman: The General Accounting Office has examined into certain opera- tions carried out by the Department of Housing and Urban Develop- ment. Pursuant to your request dated July 24, 1970, we are reporting in three enclosures the results of our studies on (1) certain instances where it appears that the objectives and goals originally established for the rent supplement program are not being achieved (enclosure I), (2) the questionable financial stability of insurance funds administered by the Department (enclosure II), and (3) the significant variances in eligibility requirements for federally assisted housing programs (en- closure III). Enactment of the proposed Housing and Urban Development Act of 1970 (S. 3639, 91st Cong., 2d sess.) would establish a subsidized multifamily housing program, patterned after section 236 of the Na- tional Housing Act, that would replace the present rent supplement program. The proposed legislation would also establish eight mort- gage and loan insurance programs- - replacing the various insurance programs authorized by the National Housing Act- - which would be ser- viced by two of the four existing insurance funds administered by the Department. In addition, the proposed legislation would standardize the basis for determining income eligibility for the federally subsidized housing programs to be established by the proposed legislation. Although we have not obtained written comments of the Depart- ment on the contents of the enclosures, we have discussed the contents with appropriate Department officials and have considered their views in the final preparation of this report. As agreed by the staff of your Subcommittee, we are making copies of this report available to the Secretary of Housing and Urban Development.

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