From KUT:
Prak Property Management Inc. has been digging into savings to keep some of its low-income properties in Austin running.
“It’s like a savings account that every month we are required to put a certain amount of dollars into for things like roofs, appliances, that sort of thing,” said Brad Prak, a management agent with the Texas-based company.
Two of the housing complexes Prak manages had their government contracts expire at the end of 2018. Without a new agreement in place – or Department of Housing and Urban Development, or HUD, employees to sign off on a contract – these properties are not receiving the subsidies they rely on to offer affordable rents to low-income families.