Management Committee Meeting

Monday, August 3, 2020 @ 3:00 p.m.

A Meeting of the Management Committee of the Board of Commissioners of RIHousing was held on Monday, August 3, 2020 at 3:00 p.m. The meeting was held via telephone conference call pursuant to Executive Order 20-46, as may be renewed, modified or superseded.

Agenda

  1. Approval of Management Committee Minutes held on June 8, 2020

  2. Recommendation for Approval of Engagement of a Document Custodian

    1. Custodian RFP Response Scoring Analysis- Cumulative

  3. Recommendation for Approval of Delegation of Corporate Authority for Purposes of Government National Mortgage Association (Ginnie Mae) MBS Programs

    1. Attachment A – Delegation of Corporate Authority

  4. Recommendation for Approval of Authority to Adopt Multi-Family Development Bond General Resolution and Supplemental Resolution for Series 2020 – $135,000,000

    1. Attachment A – MFD Bonds Projects
    2. Attachment B – Authorizing Resolution for RIH Multifamily Development Revenue Bonds
    3. Attachment C – RIHousing MFD 2020 Supplemental Resolution

  5. Recommendation for Approval of Authority to Issue Homeownership Opportunity Bonds – $250,000,000

    1. Attachment B – Authorizing Resolution for Homeownership Mortgage Originators
    2. Attachment C – Authorizing Resolution Homeownership Opportunity Program Loans
    3. Attachment D – Supplemental Resolution RI HOB 2020-2021

  6. Recommendation for Approval of Engagement of Employee Benefits and Retirement Brokerage and Consulting Firm

    1. Attachment A – Employee Benefits and Retirement Brokerage and Consulting Firm

  7. Discussion:
    a. Results from Operations for Period ending 3/31/20 and 6/30/20
    b. Agency Loan Loss Reserves
    c. Lippitt Mill Project Update
    d. Recommendation for Approval of Engagement Employee Benefit Brokerage and Consulting Services Firm

Pursuant to the Open Meeting Law, any additional items added to the agenda by a majority vote of the members shall be for “informational purposes only and may not be voted on except where necessary to address an unexpected occurrence that requires immediate action to protect the public or to refer the matter to an appropriate committee or to another body or official.”

RIHousing Management Committee Meeting: August 3rd, 2020

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Rhode Island Housing Subsidiary Corporations and Affiliates

Rhode Island Housing Subsidiary Corporations

  • Rhode Island Housing Development Corporation (occasionally LLCs are established with the Development Corporation as sole general partner on multifamily properties that RIHousing has taken over.)
  • Rhode Island Housing Equity Corporation
  • Rhode Island Housing Equity Pool II, L.P.
  • Rhode Island Housing Equity Pool, L.P.
  • University Heights Housing Corporation

Rhode Island Housing Affiliates

  • Affordable Housing Trust

These are not RIHousing entities, but we have a general partner capacity in each:

  • Ashley Estates Limited Partnership – RIH Equity Corp. is general partner
  • Erik Estates Limited Partnership – RIH Equity Corp. is general partner
  • Mohican Limited Partnership – RIHDC is general partner
  • Phebe Street Associates, L.P. – RIHDC is general partner
  • University Heights Apartments, L.P. – University Heights Housing is general partner

Mission Statement

RIHousing strives to ensure that all people who live or work in Rhode Island can afford a healthy, attractive home that meets their needs. A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.

To achieve our mission we:

  • Offer fair, affordable and innovative lending programs.
  • Provide housing related education to consumers and others.
  • Promote and finance sensible development that builds healthy, vibrant communities.
  • Provide housing grants and subsidies to Rhode Islanders with the greatest need.
  • Team up with partners to improve everything we do

RIHousing uses all of its resources to provide low-interest loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation.

Healthy Housing, Healthy Communities (H3C) Initiative

RIHousing Healthy Housing, Healthy Communities (H3C) Plan
Rhode Island Health and Housing Tool Kit
Rhode Island Health and Housing Took Kit – Appendix A-K

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Newport-Census-Map

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