June 14, 2006
Committee budget includes key investments in affordable homes
The budget released by the House Finance Committee yesterday provides real solutions to Rhode Island's housing crisis.
The budget included four key pieces of HousingWorks RI's policy platform: a $50 million housing bond that would go before voters in November, $7.5 million for the Neighborhood Opportunities Program, $300,000 for the supportive services pilot program and continued support for the state historic tax credit.
The inclusion of the $50 million bond, in particular, is a huge victory for everyone who cares about the impact of high housing costs on Rhode Island's families, communities and economy. The bond would fund the production of affordable homes, investing $12.5 million per year for four years and allowing us to double our current production level.
HousingWorks RI commends the committee and House and Senate leaders for tackling this complicated issue during a very difficult budget year. "We're gratified that the committee chose to include the housing bond in its budget," said Brenda Clement, HousingWorks RI's campaign director. "We recognize the fiscal challenges faced by the state and the many needs they had to balance in their decision-making. This is a real testament to the leadership of our bill sponsors and supporters and the strength of the coalition backing the bond."
The budget goes before the full House next week, and then onto the Senate. After that, we are eager to bring our campaign for the $50 million housing bond to the people of Rhode Island.
