Rhode Island Housing and Mortgage Finance Corporation

This strategic plan outlines RIHousing's roadmap to enhance housing opportunities for Rhode Islanders. It is built upon five core goals: increasing housing production for low- and middle-income residents, expanding partnerships for affordable home creation and preservation, driving innovation and accessibility in housing development and services, transparently communicating its role, and maintaining its status as a flexible, high-performing housing finance agency. The plan aims to transform communities through greater housing access and opportunity.

This document presents RIHousing's Annual Public Housing Authority (PHA) Plan and proposed amendments to its Administrative Plan for approval. As a PHA, RIHousing administers the Housing Choice Voucher Program (HCV), and its Annual Plan outlines strategic goals to meet housing needs, expand assisted housing, promote family self-sufficiency, and ensure equal housing opportunity. The amendments to the Administrative Plan, which governs HCV program operations and local policies, are designed to optimize program administration following public consultation.

The meeting included reports on infrastructure awards, home repair programs, and housing bond funding updates. The executive director provided updates on affordable housing developments and reviewed homeownership lending trends, including borrower demographics, loan characteristics, and an analysis of rising delinquency rates in the single-family portfolio. Additionally, the Board authorized a three-year contract renewal for Microsoft Enterprise Agreement licenses through Dell Marketing LP and approved the engagement of Housing Innovations LLC to develop applications for the 2026 Continuum of Care competitive grant program.

The meeting focused on several key funding decisions and program reviews. Key discussions included the approval of financing under the Preservation Loan Program Fund (PLPF) for the Sweetbriar development in Barrington, involving an amount not to exceed $1,406,000 for preservation and renovation efforts. Additionally, the Trustees approved funding awards totaling $661,893 under the Homeownership Investment Fund (HIF) program for new construction projects in South Kingstown and Westerly, which will result in five assisted units. Finally, funding awards totaling $1,503,431 were approved under the Turnkey Affordable Homeownership Program for ten condominium units in Lincoln, despite the program being temporarily suspended for potential modifications. The board also addressed technical procedures for recording and accessing the meeting.

The agenda for this meeting includes the approval of the Non-Profit Acquisition Bridge Loan Program Outline and Terms, as well as the approval of the Predevelopment Loan Program Outline and Terms. The meeting is open to the public via telephone conference call.