PBN: RIH allocates $3.5M in affordable housing funds

By Chris Bergenheim -March 27, 2018 11:42 am

PROVIDENCE - Rhode Island Housing's board of commissioners approved the allocation of $3.5 million in Housing Trust Fund resources for two projects that will revitalize homes for 145 Rhode Island families, RIH announced Tuesday.

This is the first allocation from the state's HTF resources.

“Today in Rhode Island, the demand for homes is outpacing supply and driving up the cost of housing - families at all income levels are feeling the burden of these rising home costs,” said Barbara Fields, executive director of RIH, in a statement. “Now more than ever it is critically important that we utilize every available resource at our disposal. We are thrilled to utilize the Housing Trust Fund for the first time in our state to increase the production of homes for Rhode Islanders.”

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Courtesy of Providence Business News