Pittsburgh housing authority approves $174 million budget
The Pittsburgh Housing Authority's board on Thursday approved a $173.6 million spending plan for 2014 that includes a $40.6 million deficit in capital expenditures.
Executive Director Castor Binion said the authority would make up the deficit by drawing from about $60 million in capital reserves. He said the reserves are the product of savings through efficiencies and designated for the improvement of subsidized housing across the city.
The budget increases spending by about $30 million next year, Binion said, attributing the increase to capital projects such as the $51 million rebuilding of the Addison Terrace complex in the Hill District.
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