A report from The Providence Journal highlights a new pilot initiative by the Providence Affordable Housing Trust Fund. This program offers developers direct financial incentives to apply a 15-year income restriction on new units in either multifamily buildings or single-family homes. With a budget of $1 million, the program provides a $190,000 subsidy for units restricted to households earning 80 percent of the area median income (AMI) and $150,000 for units limited to 100 percent of AMI. To receive the subsidy, developers need to submit the deed restriction and certificate of occupancy for the unit to the local authorities. The goal of this initiative is to make it easier for developers to create affordable housing while ensuring they still receive returns comparable to market-rate sales.