Rahm Emanuel's Housing Agency Sitting On Hundreds Of Millions Of Dollars With Massive Waitlist

Author: 
Huffington Post

CHICAGO -- Mayor Rahm Emanuel's housing agency has been pulling hundreds of millions of dollars from a fund earmarked for its affordable housing program and using the money instead to boost its pension, purchase government debt and build up a staggering cash reserve.

Meanwhile, Chicago's most vulnerable are bearing the brunt. The Chicago Housing Authority's waitlist tops 280,000, with a sizable portion of the city's population hoping for a shot at affordable housing. Ninety-seven percent of the people receiving housing assistance are black or Latino, and 85 percent are women, according to the agency. Some 15,000 families on the list are homeless.

http://www.huffingtonpost.com/2015/03/18/rahm-emanuel-housing_n_6881206.html

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