A recently released report, authored by Brookings Institution scholar Julia Isaacs, looks at the impact of the mortgage foreclosure crisis on America's children. It finds that one-in-ten children has been or is at risk to be affected by foreclosures, that the rate approaches one-in-five in some states, and that the upheaval resulting from foreclosure can have harmful and lasting consequences on a child's development.

According to this report, 8 to 10 percent of children in Rhode Island are affected by foreclosures of owner-occupied homes.

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On Friday, May 11 beginning at 8 a.m., Grow Smart RI will host their 4th biennial Power of Place Summit - Beyond Austerity: Leveraging the Power of Place for a Stronger State Economy.

The Summit brings together nearly 500 business and civic leaders, state and local officials, developers, architects, community activists, real estate professionals, planners and more.

Attendees will hear about compelling trends driving the demand for smart growth; learn how developers, builders and municipalities are responding; participate in workshops; and celebrate the first-ever Smart Growth Award recipients.

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New information shows that efficiencies in the state's Building Homes Rhode Island program are helping build another 57 long-term affordable rental and ownership homes.

We last reported that the state's Building Homes Rhode Island (BHRI) program had helped to fund the development of 1,255 long-term affordable rental and ownership homes across Rhode Island by the end of its four-year cycle in July of 2011. Thanks to a reallocation of funds realized through cost-efficiencies, BHRI has now supported the development of 1,312 long-term affordable rental and ownership homes.

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(The following is a press release from the Office of Senator Jack Reed)
MONDAY, MARCH 5, 2012

Reed Introduces Project Rebuild Act to Help Turnaround Vacant Homes and Businesses
New initiative could provide $33 million for RI to create jobs overhauling distressed neighborhoods and commercial properties

PROVIDENCE, RI - In an effort to create jobs, stabilize neighborhoods, and rehab vacant and foreclosed homes and businesses, U.S. Senator Jack Reed (D-RI) today joined officials from Rhode Island’s Office of Housing and Community Development; Rhode Island Housing; HousingWorks RI; and SWAP Inc. (Stop Wasting Abandoned Property) to lay out a another effort new plan to create jobs, stabilize neighborhoods, and rehab vacant and foreclosed homes and businesses.

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The availability of $3.1 million for lead paint hazard control and lead awareness programs in Rhode Island was announced at a news conference Monday morning at Rhode Island Housing. Attending alongside the many supporters present were U.S. Senator Jack Reed, U.S. Senator Sheldon Whitehouse and U.S. Representative David Cicilline.

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A series of informational meetings to inform the public about the Hardest Hit Fund Rhode Island (HHFRI) program continues, with meetings upcoming on:

March 22, 2011 at 6 p.m.
Johnston Senior Center
1291 Hartford Aveune, Johnston
(Presentation will be in English. A Spanish translator will be available).

HHFRI is a new program intended to prevent avoidable foreclosures by assisting homeowners who are unable to make their mortgage payments due to a documented financial hardship. Rhode Island Housing has been designated to oversee this program by the U.S. Treasury, which has made available $80 million to help Rhode Islanders at risk of losing their homes.

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