R.I. Housing awarded $5.5M competitive federal grant for affordable housing

R.I. HOUSING has been awarded a $5.5 million competitive federal grant to finance the development, construction and preservation of affordable housing. / AP FILE PHOTO/SUSAN WALSH
PROVIDENCE – The R.I. Housing and Mortgage Finance Corp. has been awarded a $5.5 million grant to finance the development, construction and preservation of affordable housing, Sen. Jack Reed, D-R.I., announced Friday. The competitive grant program overseen by the U.S. Treasury, called the Capital Magnet Fund, requires recipients to leverage $10 of housing and economic…

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