HUD's long-awaited report was given to Sanford Mayor Larry Dale after six weeks of investigating the housing group. Dale has given the authority's members until April 11 to respond to his termination notice to them. The mayor accused the board members of malfeasance in carrying out their duties.

HUD is ordering the authority to get prior approval on all expenditures not included in future annual budgets. The agency also wants a final say in the selection of a new executive director for the housing board.

Authority executive director Timothy Hudson, whose helter-skelter accounting methods triggered the HUD investigation, is resigning April 20.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.