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129392 1 (1986-03-20)

handle is hein.gao/gaobactqk0001 and id is 1 raw text is: 





             UNITED STATES GENERAL ACCOUNTING OFFICE
                     WASHINGTON, D.C.  20548

                                        FOR RELEASE ON DELIVERY
      i 11                              EXPECTED AT 9:30 A.M.
                                        MARCH 20, 1986

  129392
                           STATEMENT OF

                 JOHN H. LUKE, ASSOCIATE DIRECTOR

            HOUSING AND COMMUNITY DEVELOPMENT PROGRAMS

                  U.S. GENERAL ACCOUNTING OFFICE

                            BEFORE THE

        SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT

        COMMITTEE  ON BANKING, FINANCE AND URBAN AFFAIRS

                  U.S. HOUSE OF REPRESENTATIVES

                                ON

               HUD'S REVIEW OF AN URBAN DEVELOPMENT

            ACTION GRANT TO WILMINGTON, NORTH CAROLINA




Mr. Chairman and Members of the Subcommittee:

     We are here today at your request to discuss the findings of

our recent report, issued February 12, 1986, on the Department of

Housing and Urban Development's (HUD's) award of a $4 million

Urban Development Action Grant (UDAG) to the city of Wilmington,

North Carolina.  This grant, as you are aware, was for the

purpose of providing financial assistance to purchase and

renovate an industrial plant in Wilmington, North Carolina to be

used for manufacturing cranes.  The American Hoist and Derrick

Company (Amhoist) of St. Paul, Minnesota was the

developer/manufacturer.


'7     *-' C, N

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