Richmond public housing agency weighing 'bold move' to boost financial stability
Problems are mounting across the public housing communities that nearly 10,000 of Richmond's poorest residents call home, and the cash-strapped agency that oversees the properties doesn't have $150 million for needed repairs.
Sewage lines break, mold gathers around leaky window sills and rickety heaters sputter and fail in the January cold. Concrete foundations are deteriorating and appliances give out. Emergencies drive expenses.
Richmond Redevelopment and Housing Authority officials say things will only worsen with time, as the roughly 4,000 units age and federal subsidies used to keep them up dwindle.
"At some point you’re going to have very serious health and safety problems," agency CEO T.K. Somanath told the authority's board last week.
Read more: http://www.richmond.com/news/local/city-of-richmond/richmond-public-housing-agency-weighing-bold-move-to-boost-financial/article_5a6f4482-2c97-5f88-81b8-05abb9c49cd1.html