WASHINGTON, DC – In an effort to promote healthy, vibrant neighborhoods across Rhode Island, U.S. Senator Jack Reed today announced an additional $300,000 in federal funding for three Rhode Island-based affiliates of NeighborWorks America (NeighborWorks).  These federal funds will help NeighborWorks Blackstone River Valley, ONE Neighborhood Builders, and West Elmwood Housing Development Corporation to provide affordable housing opportunities, generate job growth, and enhance economic stability for working families.  Earlier this year, Senator Reed also helped to secure over $750,000 in federal funding for NeighborWorks affiliates in Rhode Island, bringing total NeighborWorks investment in the state to above $1 million for fiscal year 2017.

“NeighborWorks has a proven track record of revitalizing neighborhoods and increasing community involvement, and these federal funds will help to strengthen our communities, improve access to affordable housing, and spur economic development,” said Senator Reed, the Ranking Member of the Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies (THUD).  Despite President Trump proposal to eliminate NeighborWorks in his fiscal year 2018 budget proposal, Senator Reed worked to successfully secure $140 million for NeighborWorks in the fiscal year 2017 Omnibus Appropriations bill and ensured that NeighborWorks was funded at $140 million in the fiscal year 2018 Senate THUD bill.  “I will continue working on a bipartisan basis to help organizations like NeighborWorks provide more housing opportunities and move our economy forward.”

NeighborWorks Blackstone River Valley (NWBRV) will receive $50,000 from NeighborWorks’ Strategic Investment Fund (SIF) to undertake “The Millrace Initiative,” a comprehensive community development project that strengthens both the community and NWBRV through a variety of economic development, housing, entrepreneurship, creative place-making, and earned income activities.  The Millrace Initiative includes: the development of a state-of-the-art kitchen incubator facility and program for 40 food entrepreneurs; implementation of resident driven, arts focused, culturally responsive programming; and completion of a revitalization plan for an abandoned industrial district with 55 loft apartments and 35,000 square feet of commercial/office space. 

West Elmwood Housing Development Corporation will also receive $50,000 from NeighborWorks’ SIF in order to make internal and external improvements to the Sankofa Health and Wellness Center.  These improvements will include the renovation of the health and wellness center and the construction of an on-site café.

ONE Neighborhood Builders and NeighborWorks Blackstone River Valley will also each receive $100,000 in Portfolio Strengthening grant funding in order to improve their respective enterprises by optimizing revenues and expenses, improving asset values, and driving better underwriting for future deals.

NeighborWorks is a Congressionally-chartered nonprofit that supports a network of nearly 250 nonprofit organizations, located in every state, the District of Columbia, and Puerto Rico by providing grants, technical assistance, and best-in-class training that assists their efforts to build and maintain affordable housing and to engage in community development initiatives.  In fiscal year 2016, NeighborWorks funding leveraged $7.1 billion in investments in communities across the country and over $50 million in Rhode Island.  Last year, the organization helped more than 360,000 families nationwide, including 2,069 in the Ocean State, to obtain affordable housing.  NeighborWorks organizations also created or maintained more than 53,600 jobs and helped 21,000 individuals and families purchase homes nationwide, including 324 jobs and 130 new homeowners in Rhode Island.