City’s housing voucher surplus about to be depleted

Published Oct. 5, 2009 at 4:01 a.m.
A year ago, the Richmond Redevelopment and Housing Authority wasn’t spending enough of its money on housing vouchers for needy families. Now, the authority is spending more than it can afford. It is paying the price for having too much money in the bank for a program that was supposed to provide vouchers for more than 3,100 families. The $7 million surplus in the voucher program’s reserve account at the beginning of the year is expected to turn into deficits of more than $600,000 by the end of December and $1.4 million by the end of next year.


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