ProJo: Proposal would 'scoop' money from RI Housing to balance budget
PROVIDENCE, R.I. — While Rhode Island voters have supported $75 million in affordable housing bonds in recent years, the General Assembly has taken to raiding its own quasi-public housing bank — Rhode Island Housing — to balance its budget.
In fiscal 2018, the General Assembly took $1 million from Rhode Island Housing, and Governor Raimondo's new fiscal 2019 budget is seeking $5 million from the agency.
To housing activists, who point out that Rhode Island provides little support for housing compared with neighboring states, this reliance on Rhode Island Housing for cash infusions is disheartening. They cite the state's well-documented need for more housing that is affordable for millennials and senior citizens.
“It certainly sends the wrong message,” said Brenda Clement, executive director of HousingWorks RI at Roger Williams University.
Courtesy of Providence Journal