Federal Formula Grant Award Summary

Rhode Island Housing, a quasi-public housing agency and child entity of the State of Rhode Island, received a Housing Trust Fund (CFDA 14.275) formula grant award of $3,001,259.36 from the Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development on February 9, 2026. The award, which extends through February 9, 2033, supports the production, preservation, and rehabilitation of affordable rental housing for extremely low-income and very low-income households in Rhode Island.

Under this grant, Rhode Island Housing will allocate a minimum of 80 percent of funds toward rental housing activities, including acquisition, new construction, and rehabilitation of affordable units targeting households with incomes at or below 30 percent of area median income or the federal poverty line, whichever is greater. The remaining funds may support homeownership assistance (up to 10 percent) and administrative and planning costs (up to 10 percent), with up to 30 percent of total grant funds available for operating rental housing developed through the program. All funds must be committed to projects within 24 months and fully expended within five years of award.