Request for Proposals for the Development of Affordable Homes - Questions and Answers

Agency:	Rihousing
State:	Rhode Island
Type of Government:	State & Local
NAICS Category:	541511 - Custom Computer Programming Services 541611 - Administrative Management and General Management Consulting Services 611430 - Professional and Management Development Training
Posted Date:	Jun 17, 2026
Due Date:	Jun 18, 2026
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Request for Proposals for the Development of Affordable Homes
Posted: 07 May 2026 • Deadline: June 18, 2026 at 4:00 p.m.

Open

Posting Date:
07 May 2026

Deadline: June 18, 2026 at 4:00 p.m.

RIHousing and the Executive Office of Housing are pleased to announce the opening of a joint competitive funding round for multiple sources of financing for the following programs:

2026 Consolidated Funding Round 2 Information Session Presentation Slides | Updated 05.15.2026
Questions and Answers as of 6/17/26

Funding awards may be subject to appropriation and are contingent upon funding availability.

RIHousing has adopted a universal application that consolidates the request for multiple financing sources. While program priorities are similar, scoring and program requirements may differ. It is incumbent upon applicants to familiarize themselves with the various sources and identify the funding source or combination of sources that best meet the needs of their proposal.

Information Session:

RIHousing will hold an information session for potential applicants on Wednesday, May 13 at 2 PM. Please register for the information session here .

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REQUEST FOR PROPOSALS (“RFP”)

FOR THE DEVELOPMENT OF AFFORDABLE HOMES

Proposals are due before 4:00 pm on Thursday, June 18, 2026

RIHousing and the Rhode Island Executive Office of Housing are pleased to announce the

opening of a joint competitive funding round for multiple sources of financing for the

following programs:

1. Tax-exempt bond financing

2. HOME Investment Partnerships Program

3. Housing Trust Fund

4. Housing 2030 Permanent Supportive Housing and Housing 2030 Small Scale

Rental (combined funding available)

5. Housing 2030 Affordable Rental Housing New Development

6. Housing 2030 Acquisition & Revitalization

7. ZEOS (Zero Energy for the Ocean State)

Program Descriptions or Term Sheets (with scoring criteria as applicable) for each

subordinate funding source are included on the RFP site.

Funding awards may be subject to appropriation and are conditioned upon funding

availability.

RIHousing has adopted a universal application that consolidates the request for multiple

financing sources. While program priorities are similar, scoring and program requirements

may differ. It is incumbent upon applicants to familiarize themselves with the various

sources and identify the funding source or combination of sources that best meet the needs

of their proposal.

• Tax Exempt Bonds and 4% LIHTC: RIHousing has traditionally accepted

applications for bond financing on a rolling basis and will continue to do so.

Completion of the consolidated application will be considered an application for

tax exempt bonds. For proposals seeking tax exempt bonds and 4% LIHTC,

applicants are encouraged to review the 2026 Qualified Allocation Plan to ensure

familiarity with program requirements and priorities. Funding is available for

rental housing only. RIHousing reserves the right to limit Tax Exempt allocations

to determined financial feasibility of eligible bond basis and fund the balance of the

construction loan with taxable debt.

• HOME Investment Partnerships Program (“HOME”)*: RIHousing has

approximately $3 million of HOME funds available. HOME funds will be

prioritized for 4% LIHTC applications.

Revised 05.2026

• Housing Trust Fund (“HTF”)*: RIHousing has approximately $3 million of HTF

funds available. HTF funds will be prioritized for Housing 2030 Permanent

Supportive Housing projects, then if funds remain then they will be prioritized for

4% LIHTC applications.

*Note – all HOME and HTF funded projects will be subject to the Build

America Buy America (“BABA”) requirements as outlined in the

Infrastructure Investment and Jobs Act signed into law on November

15, 2021.

• Housing 2030 Permanent Supportive Housing (“Housing 2030 PSH”): The

purpose of Housing 2030 PSH is to provide funding for the development of 100%

new permanent supportive housing (“PSH”) multifamily projects for households

with incomes at or below 30% of Area Median Income (“AMI”). Further, this

initiative will prioritize funding small scale developments which are too small for

traditional low-income housing financing tools such as LIHTC. The source for

Housing 2030 PSH is Rhode Island State Housing Bond (2024) funded through

the Rhode Island Executive Office of Housing. Approximately $7,500,000 of

Housing 2030 funds are available for Housing 2030 PSH and/or Housing 2030

Small Scale Rental. Housing 2030 PSH is available for new construction or

rehabilitation of income eligible, non-LIHTC rental units. Developments must be

between 5 and 30 units. Eligibility for PSH requires: having a documented

disability or disabling condition, and experiencing homelessness or unstable

housing. Developments must benefit individuals and families with gross annual

income at or below 30% of AMI adjusted for family size. Supportive services are

required to be committed to the PSH units within the development as readily

available and routinely offered to a PSH client; however, the client may choose

whether or not to engage in the available, offered supportive services.

• Housing 2030 Small Scale Rental (“Housing 2030 Small Scale”): The source

for Housing 2030 Small Scale is Rhode Island State Housing Bond (2024) funded

through the Rhode Island Executive Office of Housing. Approximately $7,500,000

of Housing 2030 funds are available for Housing 2030 PSH and/or Housing 2030

Small Scale Rental. Funds are available for new construction, of income eligible

rental units for households earning up to 100% AMI. Developments must be no

fewer than 5 and no more than 30 units. At least 51% of units in any funded

developments must be affordable units that are secured with a deed restriction of at

least 30 years. Developments must benefit low- and moderate-income individuals

and families with gross annual incomes at or below 100% of AMI adjusted for

family size.

• Housing 2030 Affordable Rental Housing New Development (“Housing 2030

New Rental”): The source for Housing 2030 Affordable Rental Housing New

Development is Rhode Island State Housing Bond (2024) funded through the

Revised 05.2026

Rhode Island Executive Office of Housing. Approximately $20,000,000 of

Housing 2030 New Rental funds are available for new construction, rehabilitation,

and/or adaptive reuse of income eligible rental units. All applications must include

51% or more new construction units. Developments must benefit low- and

moderate-income individuals and families with gross annual incomes at or below

100% of AMI adjusted for family size.

• Housing 2030 Acquisition & Revitalization (“Housing 2030 ARP”): The source

for Housing 2030 ARP is approximately $7,200,000 in Rhode Island State Housing

Bond (2024) funded through the Rhode Island Executive Office of Housing. The

purpose of the Housing 2030 Acquisition and Revitalization Program (“ARP

2030”) is to stabilize neighborhoods and communities by strategically targeting

foreclosed and/or blighted residential and commercial properties and vacant lots in

need of redevelopment. Income of households assisted under the program is limited

to 100% of Area Median Income (“AMI”). Redevelopment of blighted properties

and vacant lots located in low- and moderate-income census tracts or QCTs will be

prioritized. Eligible properties include residential, commercial and vacant lots located

in Rhode Island that are determined to be blighted or are foreclosed and are part of a

municipal revitalization plan or strategy.

• Zero Energy for the Ocean State (“ZEOS”): RIHousing has partnered with the

Rhode Island Office of Energy Resources and Rhode Island Energy to provide

funding to support the creation of energy efficient Zero Energy Building “ZEB”

housing units in Rhode Island for low- and moderate-income residents at or below

120% AMI. Project proposals must include heat pump technologies and onsite (or

if available community) solar in pursuit of ZEB status. Up to $1,558,000 of grant

funding is available for new construction or rehabilitation of income eligible units.

Grant awards are limited to $18,200 per unit for 1-4 family developments and

$7,500 per unit for multifamily developments and total award cannot exceed

$300,000 for any individual project. For more information contact

ZEOSProgram@rihousing.com

APPLICATION INFORMATION:

• Applicants seeking capital for construction or preservation must submit applications

through the RIHousing Consolidated Application system.

https://osa.rihousing.com/signin?ReturnUrl=%2Fprojects

• Incomplete applications, applications submitted on incorrect/obsolete forms and those

omitting the requested documentation will not be evaluated.

• All LIHTC rental proposals must use the most current proforma model version 13.1h

located on our website in the Developer’s Handbook (see link below).

• All non-LIHTC rental proposals must use the alternative rental housing proforma,

which is also located on our website in the Developer’s Handbook (see link below).

Revised 05.2026

• All homeownership proposals must use the homeownership-specific model included in

the Application.

• Borrowers must identify the sources of funds for which they are applying. RIHousing

reserves the right to adjust funding amounts and sources requested by any applicant

based on need, demand, and project fit with available sources.

• The amounts available for allocation under any individual program are approximate

and may change due to nonavailability or the recapture of previously allocated and/or

committed funds.

Should RIHousing recapture any previously allocated funds from these or other

programs, RIHousing reserves the right to allocate them as part of this Consolidated

funding round.

• If you are applying for ancillary financing and believe there is an alternative that can

be viably developed with the resources currently available, you may submit 2

proformas:

o Include the alternative option in your narrative

o Outline the sources needed to complete the alternative capital stack

o Make sure your proformas outline the difference in sources, unit mixes, etc.

• If you are applying for ancillary funds for a previously approved project, you may

refer to due diligence documentation previously submitted in your application.

However, this current application must include at a minimum:

o A detailed narrative outlining request, changes to the project since previous

approval and cost increases

o Revised proforma on the most recent proforma model

o Side by side analysis of total development costs (sources and uses) outlining

changes from current award to proposed.

• If you are applying for ancillary funds and you previously submitted in the 2026

Consolidated Round 1, please re-submit or submit all documentation for a complete

application. Please note: hard copies of your plans and specs do not need to be

resubmitted if they have not changed and were submitted in the 2026 Consolidated

Round 1.

o Additionally, please outline in your narrative any documentation that has since

been updated from your 2026 Consolidated Round 1 application.

The 2026 Developer’s Handbook, the guide to underwriting multifamily transactions

including but not limited to underwriting guidelines, design and construction standards,

term sheets, the 2026 QAP and the required proforma model are available on our website

at https://www.rihousing.com/developers-handbook/.

RIHousing will post Q&A updates on the RFP website as questions arise. Please send all

questions in writing to Nivea Linhares at nlinhares@rihousing.com with the subject line:

Question for 2026 Consolidated Round 2. Applicants are advised to review those updates.

Revised 05.2026

RIHousing will hold an information session for potential applicants on Wednesday,

May 13 at 2 PM. Please register for the information session here.

ELIGIBLE APPLICANTS:

Nonprofit and for-profit developers, public housing authorities, and municipalities.

Proposals must be received by RIHousing through the RIHousing Consolidated

Application system before 4:00 p.m. on Thursday, June 18, 2026.

No late submissions or documentation will be accepted.

Revised 05.2026

This page summarizes the opportunity, including an overview and a preview of the attached documents.

* Disclaimer: This website provides information about bids, requests for proposals (RFPs), or requests for qualifications (RFQs) for convenience only and does not serve as an official public notice. Individuals who wish to respond to or inquire about bids, RFPs, or RFQs should contact the relevant government department directly.

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Request for Proposals for the Development of Affordable Homes - Questions and Answers

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