The bill amends Section 45-24-46.1 of the General Laws regarding inclusionary zoning, which allows municipalities to establish requirements for affordable housing in new developments. The bill specifies that zoning ordinances may require a minimum of fifteen percent (15%) of total units in a development to be affordable housing, which must remain affordable for at least thirty (30) years and can be enforced through land leases or deed restrictions. This requirement applies to developments with ten (10) or more dwelling units.

The bill also allows municipalities to provide various options for fulfilling the affordable housing requirement, including on-site construction, off-site development, land donations, or payment of a fee in lieu of construction. Additionally, it introduces provisions for density bonuses, permitting municipalities to add one market-rate unit for each affordable unit required, with the possibility of larger bonuses for increased percentages of affordable housing.

Furthermore, the bill allows the town of Tiverton to determine its density bonuses based upon its underlying zoning. It mandates annual reporting on the fees collected and the projects funded. The act is set to take effect upon passage.

Statutes affected:
1102: 45-24-46.1