Denish pushes for housing reform

ALBUQUERQUE, N.M. (AP) - Lt. Gov. Diane Denish is pushing legislation she hopes will continue to reform the state regional housing authority system.

She announced Friday proposed legislation aimed at replacing the current seven-region structure with a streamlined system that would target areas in need of affordable housing.

The legislation also would expand oversight of regional housing authorities.

Denish's announcement comes a day after news that a state grand jury is investigating the operations of an Albuquerque-based regional housing authority that defaulted on payments for $5 million in bonds it sold to New Mexico.

Denish says New Mexicans had put their faith in the system and that faith needs to be restored.