Funder Spotlight – Rhode Island Housing

Rhode Island Housing is a founding funder of LISC Rhode Island. Their ongoing support and partnership has been critical to LISC’s efforts to build strong and healthy neighborhoods throughout the state.

Together with its partners, Rhode Island Housing makes our state a better place to live, work and raise a family by building a bridge to the middle class for Rhode Islanders. Rhode Island Housing helps residents buy and rent affordable homes, and makes major investments in the state’s economy. In 2014, Rhode Island Housing had a total impact of $375 million in the local economy.

In July of 2015, Rhode Island Housing announced a $500,000 award to LISC Rhode Island to recapitalize the Revolving Recoverable Grant pool. This resource funds early investment in real estate developments, allowing projects to get off the ground. LISC Rhode Island’s Recoverable Grant pool was founded in 1981 with a $700,000 investment from Rhode Island Housing. Since then, the Fund has provided more than $6.4 million in pre development assistance to more than 30 Rhode Island Community Development Corporations. These developments have leveraged over $170 million in total investment.

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