In recent history, the Federal Department of Housing and Urban Development (HUD) regulatory demands have become more focused on process than performance. These demands are significantly disproportionate to the resources provided for the operation and financial viability of public housing and the Public Housing Authorities that maintain and operate them. The current regulatory structure diverts resources from sound property management and resident services coordination, and negatively impacts the ability of some Agencies to effectively address the modernization and maintenance needs of their properties.

In response to HUD regulatory control and decreased funding, RIHA has:

	Developed and implemented an Asset Management Plan in 2003 in anticipation of increased regulation and decreased funding
	Established Community Housing Solutions (CHS), a non-profit corporation structured to be self-sustaining and entrepreneurial
	Revised and updated the RIHA Strategic Plan
	Developed a Strategic Plan for CHS
	Hired a new financial team and trained them on all HUD regulations
	Documented all institutional knowledge including all procedures
	Increased responsibilities of Property Managers under the Project-Based Management model
	Familiarized and trained staff on new HUD regulations including but not limited to Project-Based Management
	Reduced staff by not filling positions vacated through attrition
	Combined positions under one title
	Increased staff responsibilities and workload
	Increase operational efficiencies

Reduced Funding & Increased Financial Pressure
Federal law requires HUD funded PHAs to rent public housing units to low-income families at rents the families can afford - generally 30 percent of family income. However, the rent collected is inadequate to cover the operating costs of public housing developments and HUD funding cuts do not cover operational funding gaps.

In response to federal funding cuts, RIHA has:

	A strong Capital Fund Plan in place
	Maintained and maximized its reserves allowing it to establish the nation's first Public Housing Operating Fund Financing Program
	Placed all public housing properties on sound financial footing
	Reorganized the Agency's financial structure under the Project-Based Management model
	Developed a budget maximizing HUD funding to retain staff, maintain and upgrade properties and provide on-going self-sufficiency programming for residents
	Reorganized staff to meet dwindling HUD funding
	Identified and secured grant funding to retain resident self-sufficiency services
	Acquired grant dollars to fund some key positions within the organization as opposed to using HUD operational funds for salaries
	CHS has applied for and received tax credit funding for the development of the Special Needs Complex
	Because of its Asset Management Plan, RIHA is poised to apply for and receive any new or additional state or federal funding should it become available

RIHA & the Stimulus Package
By signing the American Recovery and Reinvestment Act of 2009, President Obama, has infused the capital required to fund many of the current and pending affordable housing projects nationwide. RIHA is positioned to proactively respond to those development funds through its Asset Management Plan. The Plan defines the future use and value of each of the organization's properties and provides the framework for the implementation of those plans.