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Rhode Island Housing Awards $500,000 to RI LISC for Early-Stage Investment
Rhode Island Housing today announced that the agency has approved a $500,000 grant to the Rhode Island Local Initiatives Support Corporation (LISC) for its Recoverable Grant Fund. The Recoverable Grant Fund is a revolving loan fund available to community development corporations (CDCs) for financing early predevelopment expenses. LISC has financed early-stage expenses for thousands of affordable homes since the program’s inception.
RHODE ISLAND AWARDED $1.3 MILLION in funding
BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that a North Smithfield initiative will receive nearly $1.3 million through its Affordable Housing Program. These funds, awarded as a grant, loan, and interest-rate subsidy, will be used to finance 38 units of affordable rental housing for households at or below 60 percent of area median income
