2023 -- H 6281

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LC002815

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2023

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H O U S E   R E S O L U T I O N

CELEBRATING THE 50TH ANNIVERSARY OF THE ESTABLISHMENT OF RIHOUSING

     Introduced By: Representatives Shekarchi, Blazejewski, Speakman, Place, Kennedy,
Fellela, Cortvriend, Bennett, Spears, and Potter

     Date Introduced: April 18, 2023

     Referred To: House read and passed

     WHEREAS, RIHousing, established by the Rhode Island General Assembly, is a self-

supporting, quasi-public agency chartered with the mission of assisting every Rhode Islander in

their quest to buy, rent, build and keep homes. Over the past five decades, RIHousing’s work has

taken many forms and has strived to be responsive to the needs of Rhode Islanders; and

     WHEREAS, RIHousing was created in order to address Rhode Island’s widespread and

critical housing issues. One tool utilized is the issuance of tax-exempt bonds to finance affordable

housing developments and affordable single-family mortgages; and

     WHEREAS, Since the launch of its First Homes mortgage program in 1987, that made

owning a home more affordable for first-time home buyers, RIHousing has helped more than

85,000 first-time home buyers and has provided $8 billion in mortgage financing. In addition,

RIHousing has financed the development or preservation of more than 24,000 affordable homes

and apartments; and

     WHEREAS, In 1991, RIHousing began administering the Housing Choice Voucher

Program, a federal program designed to help eligible households find safe housing. Since its

inception, the program has grown rapidly and today is available in 19 communities; and

     WHEREAS, In 2012, in the midst of a major recession, RIHousing launched the Hardest

Hit Fund RI, a federally-funded national program that provided assistance to Rhode Islanders in

order to prevent foreclosure on their homes; and

     WHEREAS, In 2021, in response to the COVID-19 pandemic, RIHousing started

RentReliefRI, a federally-funded program that provided rental and utility assistance to tenants

facing financial hardships due to the pandemic. This program provided $275 million in assistance

to 37,000 renter households; and

     WHEREAS, RIHousing currently administers $50 million in funds that assist

homeowners impacted by the COVID-19 pandemic through the Homeowner Assistance Fund.

Through March of 2023, more than 1,500 households have been helped with almost $40 million

through HAF-RI; and

     WHEREAS, In 2022, the budget passed by the Rhode Island General Assembly included

$250 million in federal funding through the American Rescue Plan Act (ARP) to address housing

and homeless issues in Rhode Island. RIHousing is administering $210 million of that resource

and as of the end of February, has allocated over $30 million to develop more than 1,000 units of

affordable housing, and to provide down payment assistance to 41 first-time homebuyers; now,

therefore be it

     RESOLVED, That this House of Representatives of the State of Rhode Island hereby

celebrates the 50th Anniversary of the establishment of RIHousing; and be it further

     RESOLVED, That the Secretary of State be and hereby is authorized and directed to

transmit a duly certified copy of this resolution to RIHousing.

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