City Could Lose 1.8 Million Dollars | Paterson Times

City Could Lose 1.8 Million Dollars


The federal government through its U.S. Department of Housing and Urban Development provides the city of Paterson with millions of dollars in aid to help the housing situation in the municipality, but incompetent city individuals  may cause the city to forfeit 1.8 million dollars worth of HUD money, reported a tiny local newspaper.

Money provided to the city are still unspent; funds which were sent back in 2007, after 5 years inept city officials have yet to place the money into useful housing development for Silk City. Hud’s policy ensures that a city spends whatever is assigned to it by the federal agency, and as a rule it strictly suggests that cities do not pile up cash issued through its grants.

In that same article, the mayor, Jeffery Jones, blamed the previous administration, saying the city agency that handles the funds was busy with problems inherited from the previous regime; after almost 2 years in office that may not be a viable excuse.

The city could fight for the funds, and send reasons for not having spent the allotted pile of cash, among them could include Hurricane Irene.