The Indianapolis Housing Agency faces numerous financial challenges. Audits are being conducted on the agency that provides housing for low-income residents.

The Department of Housing and Urban Development is doing financial audits of IHA’s Section 8 and low rent housing properties. Two other private audits of the agency are also being conducted to determine the future of IHA.

IHA Interim Executive Director Marcia Lewis said the agency can’t raise revenue because it’s not meeting standards.

“We’ve got to lease up. We’ve got to collect rent. We’ve got to keep the properties in good shape,” Lewis said. “We’re spending an exorbitant amount of money on the properties because of repairs.”

Two large properties that provide senior housing are in need of major repairs. IHA also has back debts to HUD. The final report will not be public until June, but Lewis estimates the agency is about $10 million in debt.

The agency helps an estimated 24,000 Marion County residents with housing, including 9,000 voucher recipients.

Lewis said the agency’s current situation is not sustainable.

“We have to ensure that the folks who live in our communities have quality housing and that’s what it’s about at the end of the day,” Lewis said.

IHA is also dealing with staffing shortages. Lewis said the city of Indianapolis is working with the agency to determine next steps.

Contact WFYI city government and policy reporter Jill Sheridan at jsheridan@wfyi.org. Follow on Twitter: @JillASheridan.