The Indianapolis Housing Agency investigated RCM Phoenix, finding the landlord had breached Section 8 rules. It had not disclosed its ownership of the property for more than a year and had leased Section 8 apartments to unqualified tenants.
The Housing Agency filed an administrative notice Dec. 5, demanding that the landlord return $318,000 in federal welfare rent payments. That led to negotiations this week with RCM Phoenix attorneys, culminating in Friday's agreement.
The deal shows RCM Phoenix agreed to return $141,749 on apartments it rented out under the program managed by the Housing Agency. It was not clear why the settlement was lower than what the agency asked for.
Hmmm. What I would really like to know is who the local investors in the RCM Phoenix are? Nobody in the media seems too anxious to share that information with us. It looks like someone wants to get this place sold and off the news pages as quickly as possible.