Housing Opportunity Bond
Voting Yes On Question 7, to approve the $50 million Housing Opportunity Bond, is voting in support of three different areas in the state of Rhode Island. Approving the bond will bring about the construction of 800 affordable homes and apartments across Rhode Island giving thousands of Rhode Island residents an affordable place to live in this difficult economy. Currently 50% of Rhode Island renters, 33% of homeowners with a mortgage, and 20% of homeowners without a mortgage are considered cost burdened, leaving little to no money to pay for basic living needs. Not only will the Housing Opportunity Bond help with homes in Rhode Island but it will also bring much needed jobs into the state. From this bond alone 1,700 building and construction jobs will become available within Rhode Island; the bond will also leverage an additional $160 million in federal and private investments in Rhode Island communities. What this bond means for the state of Rhode Island is more homes, more jobs, and the removal of eyesores and the revitalization of neighborhoods and communities across the state. Ranking last in the nation for new housing starts from 2011-2015 voting Yes On 7 for the $50 million Housing Opportunity Bond will give Rhode Island what it needs to help invest more into its residents and communities.