LIU: $9.8 MILLION STOCKPILED IN HPD ACCOUNT OPERATED OUTSIDE CITY BUDGET PROCESS

LIU: $9.8 MILLION STOCKPILED IN HPD ACCOUNT OPERATED OUTSIDE CITY BUDGET PROCESS

NEW YORK, NY – November 22, 2011 – (RealEstateRama) — City Comptroller John C. Liu today announced that an audit of the Department of Housing Preservation and Development (HPD) found that the agency kept $9.8 million in unused funds from expired contracts and other sources – money that should have been returned to the City treasury.

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