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We recommend that the Little Rock Acting PIH Director require the Authority to develop and implement procedures to identify, report, and resolve conflict-of-interest and ethics concerns.
We recommend that the Little Rock Acting PIH Director require the Authority to design and implement financial controls to ensure that $829,544 in remaining predevelopment costs is properly accounted for and supported.
We recommend that the Little Rock Acting PIH Director require the Authority to support or repay $1,925,814 in predevelopment costs to its program from nonfederal funds.
We recommend that the Little Rock Acting PIH Director require the Authority to develop and implement an achievable plan to close the remaining projects and complete its RAD program conversions.
Take appropriate administrative actions against Authority staff for noncompliance.
Require the Authority to support the $9,608 payment with the required 2 years of average annual net earnings. For any amount that cannot be supported, HUD should require the Oak Towers Housing Development Group, LP, to pay the equivalent, from any of its reserves other than reserve for replacement, toward the Oak Towers mortgage principle.
Develop and implement controls over its incentives program, including record-keeping requirements; defined processes, such as a detailed checklist of available incentives, including monetary limits; and supervisory review requirements.
Support the $126,824 in total incentive payments. For any amount it cannot support, HUD should require the project development group, LP, to pay the equivalent, from any of its reserves other than reserve for replacement, toward the project mortgage principle.
Ensure that the abatement procedures implemented by the Commission are sufficient to ensure that housing quality standards are enforced.
Implement adequate quality control procedures to ensure that it (1) obtains and maintains required eligibility documentation in accordance with HUD’s requirements, (2) appropriately calculates and pays housing assistance and utility allowance reimbursements, and (3) completes household certifications in a timely manner.
