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RIHousing: Workforce Housing Innovation Challenge RFP

RIHousing announces the availability of approximately $8.9 million in financing for the development of Workforce Housing.

The Workforce Housing Innovation Challenge Loan Program (“WHIC”) provides financing for the development of rental housing serving households between 80% and 120% of Area Median Income (“AMI”). The underwriting rents will be subject to the lower of market or workforce rents. It will be the applicant’s responsibility to confirm their projected rents.

Application Deadline: 3:00 p.m. Friday, March 5, 2021

Workforce Housing Development Incentive:

Up to $80,000 per workforce housing unit with a maximum allocation of $2.5 million per project is available at zero percent interest and deferred for thirty years. All workforce units must be equally dispersed among market rate units throughout the development.

 

Have questions? Applicants are highly encouraged to review the questions and answers posted
to www.rihousing.com/rfps-rfqs/. All additional questions regarding the WHIC Loan Program should be directed to Eric Shorter at eshorter@rihousing.com.

For more RFPs and RFQs, please visit our website.

Courtesy of RIHousing 


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