ASHEVILLE, N.C. (WLOS) — Asheville’s Housing Authority is facing a multi-million dollar financial shortfall that is prompting major changes across the organization, including staff reductions and program restructuring.
“What we receive from the federal government does not cover all the expenses we have as an operation,” Marvin Jean Jacques, chief operating officer of the Asheville Housing Authority, said.
Leaders say the issue is not unique to Asheville, but something that housing authorities are facing nationwide. The agency said it has lost nearly $9 million over the past two years, citing leadership turnover and financial instability. According to Jean Jacques, the organization lost about 76% of its reserve funds…