Kansas City could cut $17.3M debt to HUD through development

Kansas City owes the U.S. Department of Housing and Urban Development almost $17.3 million for services rendered during the receivership of a city housing agency.That amount could drop significantly as the city carries out plans to develop properties, especially in the Beacon Hill area, that remain under the supervision of a federal judge.The amount owed HUD, detailed in a Feb. 27 letter, includes all federal CDBG and HOME funds spent related to activities of the Housing and Economic Development…

Read More... [Source: Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com]