Housing bonds will be issued to repair units

City agency, four others to get $90 million total

November 18, 2003|By Jason Song | Jason Song,SUN STAFF

Five Maryland public housing agencies will issue $90 million in bonds to pay for repairs to nearly 18,000 dilapidated apartments, state and local officials announced yesterday.

The money will be used by authorities in Baltimore City, Annapolis and Anne Arundel, Montgomery and Prince George's counties to make structural repairs, install fire sprinklers, air conditioning and other improvements.

The five agencies pooled their financial resources with the state, allowing them to borrow against future federal funding.

The money also will let the agencies make repairs quickly instead of doing them gradually. Doing repairs quickly should keep problems from mushrooming into bigger, more expensive problems later, officials said.

"For every day and delay in maintenance, that may add 10 days in the future," said Victor L. Hoskins, secretary of the state Department of Housing and Community Development.

Hoskins and other officials announced the deal at a news conference attended by Gov. Robert L. Ehrlich Jr.

The Housing Authority of Baltimore City received the most money: $60 million to rehabilitate 14,000 units.

Other authorities received these amounts: Annapolis, $4 million to repair 1,100 units; Anne Arundel County, $5.1 million for about 1,000 units; Prince George's County, $1.1 million for about 380 units; and Montgomery County, $2.2 million for about 1,500 units.

About $18 million will be put into reserve accounts or be used to pay for the cost of transactions, officials said.

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