RIH: Funding Announcement
Acquisition and Revitalization Program
RIHousing announces the opening of a competitive funding round for Acquisition and Revitalization Program (“ARP”) funding. Approximately $4.74 million in funding is available to redevelop blighted properties; 75% of the funding will be set aside for urban communities. The program will be conducted statewide.
Program Overview:The Acquisition and Revitalization Program ("ARP") will stabilize neighborhoods and communities by strategically targeting blighted residential and commercial properties and vacant lots in need of redevelopment.
ARP provides an incentive to qualified developers to purchase and redevelop blighted properties in Rhode Island. Financing is available to non- and for-profit developers, municipalities and public housing authorities. Eligible properties include residential, commercial and vacant lots located in Rhode Island that are determined to be blighted and that are part of a revitalization plan or strategy.
Program Review Criteria
For questions regarding the program, please contact Eric Alexander, Assistant Director of Development, at firstname.lastname@example.org or Belinda Lill, Program Coordinator/Ancillary Financing at email@example.com.
Application Deadline: 5 p.m. EST, Friday, April 26, 2019
Courtesy of RIHousing