The bill amends Section 45-24-46.1 of the General Laws regarding inclusionary zoning. It allows the town of Tiverton to determine its density bonuses based upon its underlying zoning. The bill specifies that subsidies may be listed in the zoning ordinance but shall not be an exclusive list. It also includes provisions related to affordable housing, requiring that a minimum of fifteen percent (15%) of total units in a development be designated as affordable housing, which must remain affordable for at least thirty (30) years. These affordable units can be enforced through land leases or deed restrictions and are applicable to developments with a minimum of ten (10) dwelling units. The bill prohibits municipalities from limiting the number of bedrooms in single-family units to less than three.

Additionally, the bill allows for various methods of producing affordable housing, including off-site construction and payment of fees in lieu of building affordable units. It outlines the process for fee-in-lieu payments, which must be used for creating affordable housing and deposited into restricted accounts. Municipalities are required to allocate these funds within three years and maintain a local affordable housing board to oversee the funds. Any unallocated funds after three years must be transferred to the executive office of housing for affordable housing development. The act will take effect upon passage.

Statutes affected:
7372: 45-24-46.1