Building Homes Rhode Island Among Funds that Help OpenDoors

Published on June 28, 2010

City, state, and federal officials gathered today on Plainfield Street in Providence to celebrate the groundbreaking for OpenDoors Housing, LLC.  When complete, the development will consist of 19 service-enriched homes, as well as office space for OpenDoors.  The work will restore the historic former Sealtest Ice Cream Factory, enhancing the beauty and productivity of the neighborhood. Funding for the rehabilitation project came from several sources, including $760,000 from the Building Homes Rhode Island program.

Other sources of capital funds included a $94,954 Deferred Payment Loan from Rhode Island Housing, $1,777,801 from the Tax Credit Exchange Program (TCEP), $850,000 from the Neighborhood Stabilization Program (NSP), $500,000 from the City of Providence HOME Funds, $200,000 from an EPA Brownfields Cleanup Grant, a $50,000 Rhode Island Department of Environmental Management Targeted Brownfields Assessment Grant, an $80,500 Developer Fee Contribution, and a $25,000 grant from the Corporation for Supportive Housing. 

In addition to these capital funds, Neighborhood Opportunities Program (NOP) funds in the amount of $1,077,250 were awarded to support operations and finance services for residents. LISC provided $15,000 through its recoverable grant program for appraisal, historic consulting, and development consulting. The Corporation for Supportive Housing provided $609,500 to finance the initial purchase of the building and pay for environmental consulting and historic consulting. Finally, Rhode Island Housing also provided a $102,555 predevelopment loan, which was used for architect, survey, and historic consulting.
OpenDoors is a non-profit organization whose mission is to strengthen communities by supporting the formerly incarcerated. The OpenDoors reentry program uses a holistic approach to support offenders as they prepare to leave prison, return home, and stabilize in the community.