Housing Opportunity Bonds - $50,000,000
Rhode Island Ballot Measure - Question 7
Election: Nov. 8, 2016 (General)
Outcome: Passed
Categories:
Housing and PropertyGovernment Budget and Spending
Summary
These funds would support the construction of affordable housing, support urban revitalization and blight remediation. The State will use $40,000,000 to develop and implement affordable housing opportunity programs through the redevelopment of existing structures and/or new construction. The remaining $10,000,000 would be used to provide funding to develop and implement programs for the improvement of properties that are blighted or in need of revitalization, including residential and commercial properties and public and community spaces.
Funding from past affordable housing bonds has been used to create over 1,900 affordable homes and apartments for families, seniors and veterans in 31 communities across Rhode Island.
Measure Text
HOUSING OPPORTUNITY BONDS - $50,000,000
For affordable housing, urban revitalization, and blight remediation, to be allocated as follows:
(a) Affordable Housing Development: $40,000,000
(b) Urban Revitalization and Blight Remediation: $10,000,000
Your vote to Approve means that you support the State issuing $50,000,000 in general obligation bonds to help fund the construction of affordable housing, support urban revitalization and blight remediation.
Your vote to Reject means that you are against the State issuing $50,000,000 in general obligation bonds to help fund the construction of affordable housing, support urban revitalization and blight remediation.
Resources
Official Summary
Full Text
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