VP Housing Authority financially solid for now

The Ville Platte Housing Authority received good marks from accountant Shirley Vige during the board’s meeting Tuesday, March 11.
Vige stated the housing authority had approximately $700,000 in “cash on hand,” and net assets of approximately $6,800,000.
“You’re doing well financially,” Vige told the board. “You’re better off than most of the housing authorities I deal with.”
Vige told the board they have a “healthy cash flow” though he also informed board members that the good financial news could mean smaller subsidies from HUD (Housing and Urban Development) in the future.
In other business, the board learned that Exective Director Grant Soileau is hoping to renovate 12 apartment units in the 2013 captial fund program. Soileau said these renovations are a huge benefit to the housing authority because the newly-renovated units increase in value and revenue.