We just got a press release from City Controller Alan Butkovitz, announcing that tomorrow he plans to release the long-awaited results of an audit into the Neighborhood Transformation Initiative (NTI).
NTI was Mayor Street's signature program to revitalize city neighborhoods by knocking down blighted buildings, cleaning neighborhoods and packaging property for development. Street borrowed $300 million in bond money for the project, which he unveiled in 2001.
Butkovitz's office has been conducting an audit on whether NTI spent their bond funds in accordance with Internal Revenue Service guidelines. Plans for another audit on the program's spending habits were made earlier this year by the Redevelopment Authority, although that process has been put on hold.