RIHousing announces the availability of grant funding under the Site Acquisition Program (“SAP”), which is being funded through State of RI American Rescue Plan Act (ARPA) funds. The SAP will provide grants for the acquisition of properties for future redevelopment of affordable and supportive housing. All SAP grants will be secured by a land-use restriction ensuring affordability for a minimum of 30 years.
Funding is available to qualified developers, including nonprofit and for-profit developers, municipalities, and public housing authorities.
RIHousing is accepting applications on a rolling basis as funding is available. Approximately $12 million in funding is available for the SAP with a maximum of $1 million per project. It is expected that SAP funds will be matched with other public and private funds for the development of the end units.
The program will be conducted statewide. Income of households occupying housing assisted with SAP funding is limited to 80% of Area Median Income (“AMI”).
SAP Program Guidelines and Application can be found at www.rihousing.com/rfps-rfqs.
**Please note: The current SAP Program Guidelines are contingent upon RIHousing Board of Commissioners approval on February 17, 2022, and are subject to change.