Lars Larson: Portland’s public housing faces bankruptcy

By Lars Larson
NW and national radio host,

The Northwest Nonsense

The city of Portland’s taxpayer subsidized housing agency, Home Forward, is sliding rapidly toward a financial cliff.

Mayor Keith Wilson warns the agency faces financial insolvency…what most of us call “can’t pay your bills”.

200-million of Home Forward’s 300-million dollar budget comes from the federal government.

Home Forward operates 7-thousand so called affordable apartments.

More than one thousand of them sit vacant for no good reason.

So despite its rich Uncle Sam money, Home Forward is looking at a 35 million dollar budget shortfall.

It doesn’t help that its former CEO, Ivory Matthews, took home a fat 300-thousand plus salary and did a hundred thousand in junkets around America while the agency she allegedly managed fell apart.

Matthews bailed out with a fat 170-thousand dollar golden parachute cause that’s how things work in liberal progressive Portland.

In the meantime, tenants still renting from Home Forward have to contend with prostitutes and drug dealers…and a landlord looking at bankruptcy by year’s end.

That’s the Rose City Rap. Join me at noon on KXL for 4 hours of Honestly provocative talk. I’m Lars Larson