Owner Mismanaged Its HUD-Insured Section 202 Site

HUD’s Office of Inspector General (OIG) audited a site because it was a high-risk multifamily project on its multifamily risk assessment for projects within the region. The audit objectives were to determine whether the project owner disbursed project funds for costs that were reasonable, necessary, and supported for the operation and maintenance of the project; and properly disclosed identity-of-interest relationships.

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