Bid Description
RI Housing and Mortgage Finance Corporation
Bid Number:ARPA Predevelopment Program Funding
| Description |
| RIHousing announces the availability of funding under the ARPA Predevelopment Program (“APP”) which is being funded through the Coronavirus State and Local Fiscal Recovery Funds (“SLFRF”) pursuant to Section 602 of the American Rescue Plan Act of 2021, P.L 117-2 (the “Act” or “ARPA”) funds. The State of Rhode Island (the “State”) was apportioned $1.13 billion in SLFRF.
The State General Assembly appropriated a portion of its SLFRF funds, to the Rhode Island Executive Office of Commerce (the “EOC”) to be allocated by RIHousing for predevelopment activities associated with the development of affordable and supportive housing.
Eligible applicants include qualified developers including nonprofit and for-profit developers, municipalities, and public housing authorities. Applicants for APP Funds should carefully review the objectives of the SLFRF, the Act and the Department of Treasury’s regulations and guidance.
RIHousing is accepting applications on a rolling basis until the funds are exhausted. |
