Troubled Public Housing Field Hearing Before the Subcommittee On Housing And C

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Troubled Public Housing Field Hearing Before the Subcommittee On Housing And C
United States Congress House Committee On Banki
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In addition to the development monies that are in Horner and Cabrini, there is probably another $70 to $100 million of devel- opment money sitting with the control plan and receivers. So we are talking about $150, another $100, $250 million. I mean, I would estimate that there is still a little over $300 million or so that is unobligated. But the problems that we had were that that money is very specific, for specific purposes.
Mr. Weller, I do not recall whether you were sitting here when I ki
...nd of explained that when the rescission occurred in the mod- ernization budget and we had to actually give money back, it kind of brought that budget to collapse because they had basically been acting as if there was no budget, and just the money would come in time for the actual expenditure. Then, when the monies had to be withdrawn, there was no monies for this in effect.
Mr. Weller. When you, of course, obligated funds, I mean you had indicated that means that contracts were for a specific service or activity.


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