City of Providence $25,000,000 Affordable Housing Bonds
What does this measure do?
Supports: Housing Affordability
Providence would borrow up to $25 million to refill its Housing Trust Fund, which helps pay to build and fix income-limited apartments and homes in the city. Taxpayers would repay the loans with interest over up to 30 years, backed by city property taxes.
Read the official ballot measure (PDF)
Proposed by: City of Providence, under state act 2026-S 2674 sponsored by Sen. Jake Bissaillon (D-Providence)
Bissaillon is a Providence Democrat who chairs the Senate housing committee. He says the housing crisis needs action at every level of government. The mayor and City Council back the bond.
Source: rilegislature.gov
A YES vote means
The city may borrow up to $25 million for the Providence Housing Trust Fund to help build and repair income-limited housing, repaid by taxpayers over up to 30 years.
A NO vote means
The city may not borrow this $25 million, and the Housing Trust Fund gets no new bond money for income-limited housing.
Sources: webserver.rilegislature.gov · pvdeye.org · pbn.com
Sources: pvdeye.org · pbn.com