In March, Mayor Brett Smiley announced his administration’s Housing Stabilization Package, which consists of various initiatives that aim to protect renters as the city seeks to address housing shortages. The package includes the Rental and Essential Needs Transition Fund, which aims to provide support to Providence renters “facing temporary financial hardship,” according to the press release.
The announcement came just over two months after a 4% cap on annual rent increases was proposed by the Providence City Council, which Smiley said he will veto. That ordinance made it out of committee on March 26 and will be put forward for a full City Council vote on April 2.
The proposed RENT Fund “will give renters a practical lifeline when a temporary setback” arises by providing “up to $3,000 per household for neighbors facing imminent housing loss” or other housing instability crises, according to Emily Freedman, director of the city’s Department of Housing and Human Services…