AN ACT RELATING TO TOWNS AND CITIES -- CITY HOUSING AUTHORITIES

This bill grants the Rhode Island Housing and Mortgage Finance Corporation (RIHMFC) exclusive authority to manage federal funds for low-income housing projects across the state. It designates RIHMFC as the sole public agency permitted to administer these specific rental subsidy allocations, though it allows for agreements with other authorized entities or related organizations. The legislation also expands RIHMFC's legal powers to enter into contracts, form partnerships, and operate businesses necessary to carry out these housing assistance programs. By centralizing this responsibility, the law ensures that all such federal housing funds within Rhode Island are administered through a single designated body.