FYI: Contractors working on HOPE VI grants--remodeling dilapidated federal public housing facilities--had completed only 27 percent of the units slated for revitalization since 1993 at the end of last year. Of the $4.5 billion Congress has budgeted for work on 165 sites, $2.1 billion has been spent, but with "inconsistent" oversight, according to a General Accounting Office audit. GAO concluded that the majority of HOPE VI grantees have not met their contractual obligations, but that administrative confusion within HUD and the absence of a formal policy for enforcing agreements has crippled the agency's ability to watch over its grants. [7/8/03]