U.S. flag

An official website of the United States government Here’s how you know

The .gov means it’s official.

Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

The site is secure.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Hotline

Report Fraud, Waste and Abuse
  • Recommendation Number: 2017-DE-1003-001-C
  • Status: Closed
  • Date Issued: September 21, 2017
Closed Date:
January 10, 2018

Repay its project’s operating account for the ineligible $15,000 disbursement from non-project funds.

Publication Report

2017-DE-1003 | September 21, 2017

Baker Tower, Denver, CO, Incorrectly Disbursed Funds and Did Not Correctly Administer the Project’s Security Deposit Account

We audited Baker Tower Apartments, LLC (corporation), located in Denver, CO, based on data showing that the corporation had taken more than $3.4 million in owner distributions since 2013 and scored poorly on its most current Real Estate Assessment… more

Related Recommendations

Housing

  •  
    Status
      Open
      Closed
    2017-DE-1003-001-A
    Closed on January 12, 2018

    Develop and implement controls over owner contributions and owner distributions to ensure compliance with its regulatory agreement and HUD regulations.

  •  
    Status
      Open
      Closed
    2017-DE-1003-001-B
    Closed on January 12, 2018

    Complete HUD-approved training regarding owner contributions and distributions.

  •  
    Status
      Open
      Closed
    2017-DE-1003-002-A
    Closed on January 10, 2018

    Perform an analysis of all security deposits and ensure that the security deposit account is fully funded.

  •  
    Status
      Open
      Closed
    2017-DE-1003-002-B
    Closed on January 18, 2018

    Implement controls to ensure existing procedures are followed to maintain the project’s security deposit funds separately from all other accounts by depositing and disbursing all security deposit funds directly into and from the security deposit account.