The bill amends Section 45-24-46.1 of the General Laws regarding zoning ordinances to enhance the requirements for inclusionary zoning, specifically focusing on affordable housing. It mandates that any zoning ordinance requiring affordable housing must ensure that these units are comparable in size and quality to market-rate housing and constitute at least 15% of the total units in a development. The bill clarifies that if a development triggers a requirement for affordable housing units, those units must be created, and payment of a fee in lieu of construction is only permissible for fractions of units.

Additionally, the average cost of developing a single unit of affordable housing will be determined annually based on the average, per-unit development cost of affordable homes financed by Rhode Island housing over the previous three years. The bill specifies that the per-unit fee for affordable housing will be calculated as the difference between the maximum affordable sales price for a family of four earning eighty percent of the area median income and the average cost of developing a single unit of affordable housing.

The legislation does not include provisions for the minimum affordability period of 30 years or restrictions on the number of bedrooms in single-family units. It does not mention density bonuses or municipal incentives for developments that include affordable housing, nor does it establish guidelines for the use of fee-in-lieu payments or oversight by a local affordable housing board. Overall, the legislation aims to strengthen the framework for affordable housing development in Rhode Island.

Statutes affected:
2705: 45-24-46.1