Yes On 2 is a broad-based coalition of individuals, organizations, and community leaders in support of Question 2, the housing and community opportunity bond that will be on Rhode Island’s general election ballot this November.
A ‘yes’ vote on Question 2 will approve new bonds to finance the planning, development, and construction of affordable homes for all Rhode Islanders.
What is a bond?
A bond is a common, low-risk tool used to invest in critical industries and infrastructures that are key economic drivers for Rhode Island. Voters in many states frequently approve bond questions for social needs and infrastructure improvements that do not receive traditional budgetary financing.
What does Approval of Question 2 do?
Approving this critically important ballot question will provide $120 million to build, preserve, and redevelop housing that Rhode Islanders can afford. It also includes at least $25 million reserved for increasing the production of housing intended for homeownership and $10 million for programs supporting public housing development.
How Will the Money Be Spent?
The $120 million in bond funds are meant to be allocated to increase the availability of affordable housing statewide. The breakdown of the funds is as follows:
$85 million
Build, preserve & redevelop affordable housing
$25 million
Homeownership
$10 million
Public housing development
Who Does the Bond Benefit?
Bond funds will be used to ensure Rhode Islanders who are seeking affordable housing can find it. Specifically, it will enable low-income workers to afford a safe and permanent place to call home. It will support homeownership production projects. It will provide communities with the tools and resources to develop affordable housing for its residents.
