Allegations of potential fraud, waste and abuse involving the South Carolina State Housing Finance and Development Authority (SCHousing.com) are being forwarded by a legislative panel to the state’s inspector general for investigation.
The S.C. House government oversight panel – chaired by Weston Newton of Bluffton, S.C. – referred the matter to the Office of Inspector General (SCOIG) earlier this week, sources familiar with the situation tell our news outlet.
What, exactly, will inspector general Brian D. Lamkin and his staff be looking into once they receive the referral?
Good question … we are working to obtain a copy of the oversight referral letter and any other materials related to the inquiry from Newton’s committee, which has a sterling reputation for transparency in the discharge of its duties.
SCHousing is responsible for doling out low-interest mortgages and down payment assistance, as well as administering rental assistance to low-income residents. Its financing is provided through the sale of tax-exempt bonds and management of federally-funded programs.
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(Via: Rent Assistance)
In existence since the 1960s, the agency is run by an executive director – Bonita Shropshire – and a nine-member board of commissioners, all of whom are appointed by the governor. There are currently two vacancies on the committee, and two members whose terms have expired.
In the $30 billion state budget that took effect on July 1, the agency operated on an administrative budget of $16.3 million and a total budget of $210 million.
This news outlet will keep a close eye on this situation – particularly any proximity this inquiry may have to an ongoing nationwide investigation launched by the U.S. Department of Housing and Urban Development (HUD).
Stay tuned … we look forward to providing our readers with an update on this situation soon.
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