- Associated Press - Tuesday, April 7, 2015

PROVIDENCE, R.I. (AP) - The board chairman at Rhode Island Housing is stepping down after a little more than a year on the job.

The agency announced Tuesday that the resignation of Andrew L. Cortes would be effective immediately. Gov. Gina Raimondo will nominate a candidate to serve the remainder of Cortes’ term.

Cortes was nominated last year by former Gov. Lincoln Chafee, who said at the time the quasi-public agency needed new leadership.

Cortes says he agreed to serve as chairman during what he describes as a “period of transition” for the agency.

The agency has come under scrutiny recently after a federal audit revealed that the agency’s HOME Investment Partnerships Program, an affordable housing program, had mishandled federal housing funds.

The audit recommends the state repay more than $1.4 million.

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