McKee Administration, Department of Housing, RIHousing Announce Over $60 Million Available for Affordable Housing Development Through RIHousing’s Consolidated RFP Process

Published on Thursday, October 17, 2024

PROVIDENCE, RI – The McKee Administration, Department of Housing and RIHousing today announced the opening of another competitive round of funding for the development and rehabilitation of affordable housing across the state. Of the over $60 million available, $1.7 million comes from State Fiscal Recovery Funds (SFRF), part of Governor McKee and the General Assembly’s historic investment of over $322 million in SFRF into housing and homeless programs since funds were made available by the American Rescue Plan Act of 2021.

This funding round also contains tax-exempt bonds, federal 4% and 9% Low Income Housing Tax Credits (LIHTC), and up to $30 million in State LIHTC. The State LIHTC will provide tax credit funding in equal increments over the five-year period after the project is placed in service. This is the first time that State LIHTC has been offered in Rhode Island.

To view the complete press release, click here. 

Courtesy of Office of the Governor