The Financial Management team is responsible for ensuring the ongoing long-term viability of RIHousing funded projects.
Throughout the life of a development, financial performance reviews will be conducted and may include:
To help you as a landlord or property manager, we have summarized the following information for common operating and financial audit matters.
Requests for capital improvements require the prior written consent of RIHousing. Requests should outline the need for the improvements, the timetable for completion, the cost estimate for the improvements and the desired source of funding. The cost estimate should include all labor, materials, taxes and permits necessary to complete improvements.
For items in excess of $10,000, three cost estimates should be provided for an identical work scope and specification provided to each contractor. Depending on the scope and scale of the work, technical assistance may be required by RIHousing’s Design and Construction division. Upon completion and inspection, funds may be requested from the Replacement Reserve Account to reimburse the Property Operating Account.
Use this template for replacement reserve requests:
Replacement Reserve Request Template
Owners of developments funded by RIHousing are eligible for a distribution of surplus cash as specified in the legal and regulatory documents of each transaction.
This cash flow is requested with the submission of each year’s financial audit. In order to ensure that funds available for distribution are being determined in the most consistent and accurate manner, the annual financial reports must include the HUD Form 93486, Statement of Surplus Cash.
CONTACT
Susan Halloran
Manager of Multi Family Financial Assets
401-450-1339
shalloran@rihousing.com
Check whether your current residence is located within an eligible census tract.
Only residents of census tract 405 are eligible for the FirstGenHomeRI pilot program.
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Check whether your current residence is located within an eligible census tract for application prioritization.
Applications from residents who live in the census tract listed below are prioritized.
| Central Falls | 44007010900, 44007010800, 44007011100, 44007011000 |
| Pawtucket | 44007016000, 44007015300, 44007015100, 44007015200, 44007015500, 44007016600, 44007016700, 44007017000, 44007017100, 44007016100, 44007016400 |
| Newport | 44005040500, 44005041100 |
| East Providence | 44007010100, 44007010501 |
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