Year in Review: A year of great change and accomplishments
One year ago, I had the privilege of being appointed to lead Rhode Island Housing - an organization of hardworking, dedicated professionals who have a passion for connecting Rhode Islanders with safe, affordable homes. As I reflect on last year and we move forward into 2016, I am tremendously proud of the progress we have made building a bridge to the middle class for more Rhode Island families. I look forward to continuing to build on the agency's track record of success.
Last year, Rhode Island Housing supported Governor Gina Raimondo's efforts to create jobs and get more people working in Rhode Island. The
highlights include:
The new Ocean State Grad Grant has provided down payment assistance grants since September to help recent college graduates purchase their first homes in Rhode Island.
The $3 million Housing Preservation and Production Program has enabled Rhode Island Housing to invest in the preservation of nearly 300 affordable apartments and support more than 140 construction jobs.
Mortgage dollar volume in 2015 surpassed the previous year's by
62% and is now
back at 2007 levels.
Rhode Island Housing awarded 9% Low Income Housing Tax Credits for multiple developments, leveraging $47 million in additional investments and creating 230 construction jobs, as well as the development of 185 homes.
We issued nearly 1,000FirstHomes Tax Credits, which will generate approximately $1.3 million in dollar-for-dollar federal tax savings for Rhode Islanders in its first year alone.
We continued to increase our work with mortgage lenders and brokers. Participating partners now account for 75% of Rhode Island Housing's mortgage activity - up from 54% in 2014.
Rhode Island Housing reopened the waitlist for the Housing Choice Voucher Program (Section 8), which attracted more than 5,000 applications. To date, 80 vouchers have been distributed to formerly homeless households.
As we create new, innovative programs and ensure the continued success of our existing programs, Rhode Island Housing is positioned to help even more Rhode Islanders in the year ahead.
The Olney Village development in Providence was recognized by the Affordable Housing Tax Credit Coalition with an honorable mention in the 2015 Charles L. Edson Tax Credit Excellence Awards.
Keep up with all the latest news and happenings at Rhode Island Housing by following us on social media!
And the award goes to...
Rhode Island Housing received local and national recognition for its programs and investments in Rhode Island's economy in 2015:
For Demaris, her dream of homeownership became a reality after she enrolled in Rhode Island Housing's Family Self-Sufficiency (FSS) and Homeownership programs. Armed with the right tools, she was able to purchase her own homewhere she is creating beautiful memories with her children.
Helping Rhode Islanders
Rhode Island Housing makes Rhode Island a better place to live, work and raise a family by building a bridge to the middle class. Rhode Island Housing is a major driver of economic growth in Rhode Island.
