There’s a compelling case that Rhode Island can never spend enough on affordable housing to meet the growing need.
It’s part of the argument supporters are making for why voters this year should approve another $120 million housing bond. Since 2006, Rhode Island voters have approved $310 million in housing bonds, including $120 million in 2024.
The state has set a goal of building 15,000 new homes by the end of 2030.
“This is about creating a pipeline,” state Housing Secretary Deborah J. Goddard told PBN in this week’s cover story. “There’s a goal … you should expect housing bonds to be issued” until the goal is met.
What’s missing from the argument, however, is clear public accounting of where the money has been spent so far.
Before voters are asked to commit to more, they deserve that.
The money from the 2024 bond has not been spent. The rest of the housing bond money is difficult to track down by project and could not be provided in full to PBN despite multiple requests.
State housing officials say better multiagency public accounting is planned to close the information gap, especially for future spending. That includes R.I. Housing and Mortgage Finance Corp.’s planned online dashboard to search spending, including bonds. But it is unclear if that will include all the prior housing bond spending.
“What are we building? How much does it cost? And how many units do we get?” said Jeffrey S. Hamill, Rhode Island Public Expenditure Council analyst. “Those are straightforward questions taxpayers deserve clear answers to.”