The McKee administration said Friday that a package of budget proposals is being directed at housing development and creation for vulnerable residents that will support cities and towns throughout the state.

McKee: Budget proposal to focus on housing development

(The Center Square) – Spurring housing development and creation is the focus of a new budget proposal in Rhode Island.

The McKee administration said Friday that a package of budget proposals is being directed at housing development and creation for vulnerable residents that will support cities and towns throughout the state.

“Housing is essential infrastructure for communities throughout Rhode Island,” said Gov. Dan McKee. “The increases in rents, evictions, and homelessness in recent years demonstrate the need to provide better and more affordable options to Rhode Islanders. I thank the speaker, Senate president, and the General Assembly for considering this budget amendment which will help spur much-needed housing development across our state.”

The new proposal, according to a release, features creating a statewide Low Income Housing Tax Credit and would fund development that is transit-oriented while investing in priority housing developments and infrastructure.

The investments in the budget proposal, according to a release, extend investments in housing by $29 million of State Fiscal Recovery Fund investments.

According to a release, the creation of the housing tax credit program would incentivize housing developers to widen subsidized housing options for low-income Rhode Island residents. Six of the eight states in the Northeast have such a program at the state level that can match investments from the federal program.

“Though Rhode Island’s housing challenges are significant, this tough scenario has created meaningful momentum for change,” Secretary of Housing Stefan Pryor said in a statement. “Our state can begin to turn things around with these new investments in housing development – and, through these initiatives, we can start to create new housing opportunities for Rhode Islanders at every income level.”

According to a release, reallocation of funds is included in the proposal that would be put to work to create a pilot initiative and support cities and towns with homelessness issues. The proposal features $978,755 to aid homelessness outreach, day programs, ambulance response, and other aspects pertaining to emergency shelters.

Of the $29 million investment, according to a release, from State Fiscal Recovery Funds, $4.3 million will be used to give resources to the RI Infrastructure Bank; $4.9 million will support transit-oriented development feature housing; and $17 million for grants to address and prioritize housing development.

According to a release, the proposal would use $1.4 million to create a fellows program to provide staffing capacity to municipalities that need help conducting zoning, permitting and planning activities.

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