Thanks to reserve fund, the agency can continue to pay vendors and employees and provide full service
(BALTIMORE– December 24, 2018) – The Housing Authority of Baltimore City (HABC) will continue to operate normally for now, providing full services and paying vendors and employees despite the federal government shutdown.
HABC gets almost all its funding from the U.S. Dept. of Housing and Urban Development, one of the federal agencies affected by the shutdown, which some experts say could drag on into 2019. The housing authority maintains a reserve fund for just these kinds of contingencies but that money won’t last indefinitely.
“We can cope with this situation in the short-term but our concern is over a prolonged shutdown,” said HABC Executive Director Janet Abrahams. “Many people are not aware that we are directly affected by what happens in Washington and it’s important to plan accordingly.”
January payments for HABC’s Housing Choice Voucher Program landlords are in place and will go out at the beginning of the month, so there will be minimal to no impact on clients in that program in the coming weeks.
“Some critics have told us we should not maintain any kind of reserve, but we would hope that a situation such as this demonstrates exactly why we manage our finances in the responsible manner we do. We believe that not only our residents and vendors but all citizens of Baltimore will find some assurance from that.”
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About HABC: HABC is the fifth largest public housing authority in the U.S., providing quality affordable housing for more than 23,000 households. The agency creates diverse and vibrant communities, provides opportunities for self-sufficiency, and builds pathways for strong partnerships. #bmoreHABC
