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 caters to 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 diverse housing needs. 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.

Furthermore, the bill establishes criteria for counting residential housing units towards a municipality's low- and moderate-income housing inventory, specifying that units must not exceed 30% of a household's gross income for those earning less than 140% of the area median income. It requires towns and cities to adopt and update their affordable housing plans in accordance with state guidelines, ensuring that these plans align with the state guide plan. The bill also emphasizes the importance of higher density development and mixed-use projects, while ensuring local comprehensive plans are consistent with the state's strategic housing goals. Notably, it deletes the previous requirement that land must be owned by the occupant, replacing it with a stipulation for long-term leases exceeding 30 years. The act is set to take effect upon passage.

Statutes affected:
6163: 42-128-8.1