Rhode Island to get $3M to help create affordable rentals
By The Associated Press
PROVIDENCE, R.I. (AP) _ Rhode Island is receiving $3 million in federal money to help create affordable rental housing.
The money comes from $174 million awarded by the U.S. Department of Housing and Urban Development through the nation’s Housing Trust Fund.
U.S. Sen. Jack Reed, a Rhode Island Democrat, created the fund to address the shortage of affordable housing. He says the money will help Rhode Island increase the number of affordable homes and strengthen communities.
Advocates for low-income residents say Rhode Island has thousands fewer rental units than it needs for low-income people.
States can use the money for things such as buying and developing real estate, demolition, financing and relocation help.
© The Associated Press WLNE-TV 2016