Word: hud
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Dates: during 1980-1989
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Kemp surprised some Washington insiders by seeking the HUD post, a job that has had little stature during the Reagan Administration. For the past eight years, the HUD Secretary has been Samuel Pierce, the only black in Reagan's Cabinet, who has gone so unnoticed that he has earned the nickname "Silent Sam." Kemp would bring a more ambitious agenda to HUD. For years, he has been a strong advocate of Urban Enterprise Zones, in which the Federal Government would give investors tax breaks to encourage the economic revitalization of inner cities. He has also proposed selling public housing...
...Samuel Pierce, the Secretary of Housing and Urban Development, is the only remaining member of Ronald Reagan's original Cabinet, yet he has been the Administration's invisible man. Federal support for subsidized housing has been slashed 77%, from $32.2 billion in 1981 to $7.5 billion this fiscal year. HUD authorized the construction of only 88,136 subsidized dwellings in 1987, compared with more than...
...foreclosed housing. HUD owns 47,000 properties seized for mortgage defaults. Traditionally, these repossessed buildings have been sold at auction to the highest bidder. The Government ought to start seriously complying with 1987 housing legislation that calls for underused property to be turned over to the homeless, by donating or selling buildings at low prices to housing advocacy groups...
...especially in states like Texas and Colorado that have been hurt by the decline of energy prices. Last fiscal year alone, the FHA's parent agency, the Department of Housing and Urban Development, had to take possession of 64,800 homes because the owners defaulted on FHA-guaranteed mortgages. HUD has been auctioning many of the houses off, often at cut-rate prices. The sales have stirred strong protests in Denver, where the average price of a single-family home has fallen from $139,500 in the second quarter of 1987 to $117,900 in the same period this year...
...those problems, the agency faces a new lawsuit from the National Housing Law Project, a California-based public interest law firm. The group contends that under a 1987 law, HUD is required to survey its inventory to see if some of the empty houses could be used to provide shelter for the homeless...