Our Recommendations for Housing Investments

“Housing Stability for Rhode Islanders: Recommended Priorities for Investing ARP Funds”

Over the past year, Homes RI advocated for State Leaders to make a substantial investment of American Rescue Plan State Fiscal Recovery funds to improve housing stability for Rhode Islanders. On July 23rd, Governor Dan McKee signed a $13.6 billion FY23 budget, which included a $250 million investment of American Rescue Plan funds in affordable housing and homelessness. The $221 million in SFR funds allocated for housing in this budget (on top of $29 million approved in the RI Rebounds Act approved in January 2022) represent an historic level of investment providing critical financial resources for housing development, expanded homeownership opportunities, and support for people experiencing homelessness. We applaud the General Assembly for their leadership on housing this year, building on important initiatives enacted in 2021, such as the creation and seeding of the state’s first dedicated Housing Production Fund. Housing is an ongoing need that changes over time in response to population shifts, policy decisions, and levels of investment and we urge our State Leaders to remain steadfast in their commitment to addressing Rhode Island’s housing challenges by reducing barriers and making continued investments in development, preservation, and stabilization services.