Reps. Maxine Waters (D-Calif.) and Al Green (D-Texas) have sent a letter to Helen M. Albert, acting inspector general of the U.S. Department of Housing and Urban Development (HUD), regarding concerns about President Donald Trump’s potential conflicts of interest.
Specifically, the lawmakers were concerned with Starrett City, a federally-subsidized, multifamily, affordable housing development in Brooklyn.
“[A] recent Washington Post article indicated that President Trump has a 4 percent ownership stake in a multifamily affordable housing development that received $491.7 million in federal subsidies to house more than 3,500 low-income households through HUD’s Project-Based Rental Assistance (PBRA) program since May 2013, nearly $38 million of which has been disbursed since President Trump took office in January,” the lawmakers wrote.
The article also revealed that Trump received at least $5 million from his ownership stake in the development between January 2016 and April 15, 2017.
“We understand that President Trump’s holding in the company that owns this complex has been placed in a revocable trust, and that he has not divested himself of the assets. This means that President Trump still has a clear interest in the funding level for the PBRA program, any policy changes to the program that could affect the company’s management of the development or its profitability, as well as the results of any future HUD investigations into his properties while the Secretary of HUD serves at his pleasure, and can be dismissed at any point without cause.”
Waters and Green presented a list of questions for Albert:
Waters and Greens also requested that Albert review, audit or evaluate the steps HUD has taken to address potential conflicts of interest stemming from Trump or his family’s real estate holdings. In particular, they asked that Albert specify whether relevant HUD staff are aware of all HUD-assisted properties in which Trump or his family have an ownership stake.
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