Commentary: Jeanne Cola Calls for Urgency to Address Housing Recovery

5.15.2023 — In the NewsHousing in Rhode Island

In partnership with the Rhode Island Foundation and others, Local Initiatives Support Corporation Rhode Island was proud to support the development of an in-depth analysis of the state’s housing crisis. The environmental scan and analysis by the Boston Consulting Group assessed the overall need and resources available to address the emergency and need. The report identifies the state’s biggest challenges, lays out suggestions and encourages action.

It’s clear from the past year, and made more evident through this report, that we cannot afford to wait any longer to implement multiple strategies on a wide variety of initiatives. We need to walk and chew gum at the same time — actually, we need to run and chew. We need to advance housing production through our existing channels and partner networks, but we also need to eliminate barriers and urgently invest in new ways of doing things — and get them done faster.

The report highlights the real struggle around the patchwork of policy governing Rhode Island’s housing production. As a first step, we need to get behind the policy recommendations put forth by House Speaker K. Joseph Shekarchi — they are all common-sense recommendations that will begin to move the needle.

The updated Low-Mod commission is working to get municipalities to consider a minimum of 10% of deed-restricted affordable housing and looking to add incentives for reaching the 10% goal. The language of the statute identifies 10% as a minimum consistent with local needs, yet local housing needs are far higher. There seems to be a 'no growth' philosophy held by many of the municipalities — we need to come to some understanding that enables a path forward.

And we can’t afford to lose any units that we already have. Existing repair programs are ineffective and onerous, with compliance challenges that strain both local government and homeowners. All funding options need to be deployed, and new ways of adding units need to be included. We’re lucky to have received American Rescue Plan funding that has been earmarked for housing development, but even $250 million will only scratch the surface of what is needed.

We need all hands on deck to address this problem — not only to deploy resources from the state and federal governments — but we also need support from corporations as well as our colleges and universities. Blue Cross & Blue Shield of Rhode Island began supporting affordable housing development after hearing the clarion cry raised by its RI Life Index and seeing the irrefutable link between health and housing, but others need to step up to face this challenge.

Rhode Island has not fully invested in the development of affordable housing for more than a decade. Housing advocates have been ringing alarm bells for years, and finally we have some political will to address the problem. Now is the time for action. We agree with Rhode Island Foundation President Neil Steinberg when he says: 'This is at a point where we’ve got to make change. Otherwise, something is going to break.'

Jeanne Cola is executive director of Local Initiatives Support Corporation Rhode Island. LISC is a national nonprofit community development financial institution that supports the development of affordable housing through technical assistance, grants and other investments.