On March 17, 2026, Providence Mayor Brett Smiley, City Councilman John Goncalves, and housing officials announced a new Housing Stabilization Package aimed at supporting renters and expanding affordable housing amid the city’s housing shortage. The package focuses on three strategies: increasing housing production through zoning reforms and affordable housing investments; preserving existing affordable homes by upgrading older buildings; and protecting residents through rental assistance, legal services, eviction defense, and shelter support.

A central element is the proposed Rental & Essential Needs Transition (RENT) Fund, which Councilman Goncalves and several councilors will formally introduce on March 19. The RENT Fund will offer emergency grants up to $3,000 to renters facing financial hardships like job loss or medical emergencies, helping prevent eviction or foreclosure. It targets households earning up to 80% of the Area Median Income, prioritizing those at or below 60%. Assistance can cover rent arrears, forward rent, security deposits, utility bills, mortgage arrears, and related costs. The program limits aid to one application per household annually.

Mayor Smiley emphasized that housing stability is vital for community health, and the RENT Fund complements broader efforts to defend tenants, enforce housing codes, and expand affordable housing citywide. Councilman Goncalves highlighted the fund’s role in preventing displacement by providing timely, short-term relief to families in crisis.