Government Agency Gave $10 Million Loan Guarantee to Renovate Apartments Valued at $4 Million
COLORADO SPRINGS, Colo.—The Department of Housing and Urban Development provided a $9.4-million loan guarantee to renovate an apartment complex here eight months after the owner convinced the county to value the complex at just $3.8 million, a Watchdog.org investigation found. The loan for Apollo Village Apartments defaulted, and the property was foreclosed on in 2012,…
