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Turn Aging Public Housing Projects Over to Private Sector, Local Housing Authority Urges

SANFORD, FL-The 238 families at six apartments would still pay rent based on their income but much red tape would be eliminated by having a commercial management company handle the assets, says the executive director of the Sanford Housing Authority.

By Alex Finkelstein | Updated on December 01, 2000

SANFORD, FL-In rare public comments, Sanford Housing Authority executive director Timothy Hudson, says six aging apartment complexes in his area should be removed from the jurisdiction of the US Department of Housing and Urban Development and offered to a private developer who could renovate and operate the assets more efficiently.

The developer would have the option of either razing the existing properties and replacing them with a mix of new shelter and commercial development or renovating and improving all six multifamily buildings. The structures house 238 family tenants in an estimated 600 units.

The developer would allocate at least 40% of the units to public housing tenants. The remainder would be rented at current market rates. One property especially, the 100-unit Lake Monroe Terrace apartments, is in rickety condition and has long needed repairs. <p<In a published statement, Hudson says he feels a private developer could quickly raise about $7 million and do the Lake Monroe Terrace job in eight months compared to his agency which would take 10 years to complete the job because of bureaucratic Federal red tape. Placing the six public housing properties under private ownership would put the complexes on the tax rolls and make them a revenue-maker for the city, Hudson says. Under HUD, the properties are exempt from local taxes.

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