The bill amends the Rhode Island Housing Resources Act of 1998, renaming it the "Comprehensive Housing Production and Rehabilitation Act of 2004." It emphasizes the need for a comprehensive housing strategy that addresses the diverse needs of various populations, including low-income families, older citizens, students, and vulnerable individuals. The bill calls for local and state partnerships to eliminate barriers to housing development, update zoning regulations, and create innovative funding mechanisms for affordable housing initiatives. It also mandates the development of a five-year strategic housing plan by July 1, 2006, which will include specific goals and measurable steps to address the housing needs of different demographics. The definition of "affordable housing" is clarified to ensure it does not exceed 30% of a household's gross income for those earning less than 120% of the area median income, and it includes provisions for mobile and manufactured homes under long-term land leases, deleting the previous requirement that the land must be owned by the occupant.

Furthermore, the bill broadens the classification of affordable housing to include manufactured homes on leased land with long-term leases exceeding thirty years, aiming to expand affordable housing options for low- and moderate-income residents. It establishes criteria for counting residential units towards a municipality's low- and moderate-income housing inventory, ensuring that units do not exceed thirty percent of a household's gross income for those earning less than 140% of the area median income. The bill also requires towns and cities to adopt and update their affordable housing plans in accordance with state guidelines, allowing towns with approved plans to meet strategic plan requirements until their next comprehensive community plan update. It emphasizes higher density development and mixed-use projects while ensuring local plans align with the state's strategic housing goals. The act will take effect upon passage.

Statutes affected:
900: 42-128-8.1