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B-216006 1 (1984-10-31)

handle is hein.gao/gaobadlzs0001 and id is 1 raw text is: O: THE COMPTROLLER GENERAL, (- IDECIlON oP THE UNITED *TATEU WASHINGTON. O.C. 2054U FILE: B-216006 DATE: October 31, 1984 MATTER OF: Approval of Elderly and Handicapped Housing Loans OIGEST: GAO investigations raised questions about the legality of seven loan applications condition- ally or finally approved by the Department of Housing and Urban Development under the Hous- ing for the Elderly and Handicapped program authorized by 12 U.S.C. S 1701q. Prohibited identity of interests were involved in six of the seven projects; a serious question about the financial responsibility of the seventh- borrower was also raised. HUD certifying officials are advised that no exceptions will be taken by GAO to past or future disburse- ments under these loans if HUD takes the actions it proposes to cure the conflict of interest deficiencies and to verify financial responsibility of the seventh borrower before final loan approval. By letter dated July 31, 1984, the Director, Office of Finance and Accounting, U.S. Department of Housing and Urban Development, requested a decision as to the legality of loans under the Housing for the Elderly and Handicapped pro- gram authorized by 12 U.S.C. S 1701q for seven projects which had previously been approved by HUD. Loan disburse- ments have been made on only one of the seven projects. The questions as to the legality of the loans which are the subject of the request for a decision arose as a result of written Informal Inquiries issued by General Accounting Office audit staff to the HUD Chicago Regional Office. The Informal Inquiries raised identity-of-interest questions about six of the seven projects and questioned whether HUD financial responsibility regulations had been followed in conditionally approving a loan to a sponsoring organization on the seventh project. Because the certification of any improper payments under the loans in question would result in personal liability of HUD certifying officials, our deci- sion was requested as to the propriety of proceeding with each of the projects and as to the legality of disbursements already made on one project concerning which disbursements have been made.

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