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Enews Archives

March 1, 2006

Take action to protect state historic tax credit
The Governor and General Assembly are considering scaling back the state historic tax credit program, which has inspired developers across Rhode Island to convert old mills and other underutilized historic properties into affordable homes, hotels, shops, and office space.

HousingWorks RI has made the preservation of a strong state historic tax credit program one of our 2006 legislative priorities.We care about this program because:

It’s an important tool for the things we care about – affordable housing production, neighborhood revitalization and economic development.
It infuses money into local budgets by returning abandoned and underutilized properties to the tax rolls. According to a study (to view, click here) conducted last year, the program has stimulated over $850 million of private investment in Rhode Island and boosts local property tax revenues by almost $9 million every year. Every $1 in credit generates almost $5.50 more in the economy.
It has a statewide impact. Historic tax credit projects (to view, click here) are underway in urban, suburban and rural communities across Rhode Island.

HousingWorks RI is proud to join a growing coalition led by Grow Smart Rhode Island working to protect the state historic tax credit. We need you to get involved. Tell your elected officials that Rhode Island cannot lose a program that helps stimulate the production of affordable housing. Click here to read Grow Smart’s call to action and easily email the General Assembly leaders.

To read a recent Providence Journal article about the program, click here.*

Supportive services
As Rhode Island begins an innovative new program to end homelessness, a recent story in The New Yorker tells of similar efforts around the country. “Million-Dollar Murray” introduces Murray Barr from Reno, Nevada, who suffered from chronic homelessness and alcoholism and cost the system close to $1 million in medical care.

Author Malcolm Gladwell notes that public officials are increasingly seeing this approach as an economic strategy. Experts estimate that 20 percent of the homeless experience long-term or repeated bouts of homelessness. Governments and providers around the country are learning that providing constant medical care, detoxification and public safety services to these individuals costs more money than providing permanent homes and the intensive services needed to maintain stability.

Philip Mangano, executive director of the Interagency Council on Homelessness, said of this approach, “Our intent is to take homeless policy from the old idea of funding programs that serve homeless people endlessly and invest in results that actually end homelessness.”

Rhode Island has just launched this innovative approach, thanks to the General Assembly’s investment last year in a new program to fund the delivery of supportive services to 50 chronically homeless individuals in permanent housing. Riverwood Mental Health Services and ACCESS-RI: a program of the Mental Health Association of Rhode Island, are providing services under this program. Continued funding for year two of this program is a major piece of HousingWorks RI’s legislative platform.

To read “Million Dollar Murray,” click here.*

*All articles have been saved as Adobe PDF documents. To download the latest version of Adobe Reader, click here.