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They are financed under another federal program, Title I.
In New York City alone, 450 houses financed under this program are in default, Mr. Franklin said.
Ms. Wagner, by contrast, is heavily financed under the Merrill Lynch arrangement, but has been slow to use those resources.
HUD officials have said that in New York alone, 450 houses financed under its 203(k) program were in default.
Only one small part of the vast underground garage -- the only part financed under the existing bonds -- is being built.
But even at $785 million, this is one of the single biggest projects in the country financed under the investor program.
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The executive said it is making a further £500,000 available under the £1.9m Northern Ireland Broadband Fund, which is co-financed under the European Regional Development Fund Sustainable Competitiveness Programme 2007-13.
JPMorgan Chase finances co-op buildings with 5 or more units; Bank of America regularly finances under 10 units but will not go below 5, according to company representatives.
However, as of to date it remains unclear how such innovations are financed collectively under conditions characterised by extreme uncertainty.
But given the problems noted by the chancellor in Britain's "overcrowded, under-financed, under-planned and under-maintained transport system", the additional spending is relatively small.
Like all French Regions, it co-finances infrastructures under "project contracts" with the national government.
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