Requires the town of Tiverton to require a minimum number of affordable housing units if there is less than ten percent (10%) of affordable housing in the town.
Impact
The implications of H6215, if enacted, are significant for local housing policies in Tiverton. By enforcing a minimum requirement for affordable housing units in new developments, the bill seeks to alleviate the existing deficit of affordable options in the community. This is particularly critical given the rising costs of housing across many regions. However, the requirement might lead to concerns regarding the feasibility for developers who may argue that such stipulations could hinder market-driven solutions and increase the overall costs of housing projects.
Summary
House Bill 6215 aims to address the shortage of affordable housing in the town of Tiverton by mandating that new construction projects include a minimum proportion of affordable housing units. Specifically, the bill stipulates that if the proportion of affordable housing in Tiverton falls below ten percent (10%), any developer must ensure that at least fifty percent (50%) of the units in any new residential project be designated as affordable housing. This legislative move is targeted toward promoting housing equity and ensuring that low and moderate-income families have access to suitable living conditions.
Contention
As with many housing-related bills, there are potential points of contention surrounding H6215. Proponents of the bill advocate for the necessity of affordable housing requirements, emphasizing the urgent need for accessibility for low-income families. Conversely, opponents might contend that imposing strict mandates on developers could deter business investments and lead to a decrease in overall construction activity, thereby exacerbating the housing crunch rather than alleviating it. These opposing views highlight the tension between regulatory measures aimed at ensuring housing affordability and the practical economic implications for development in the area.
AUTHORIZING THE TOWN OF NARRAGANSETT TO FUND AFFORDABLE HOUSING IN THE TOWN OF NARRAGANSETT AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR
AUTHORIZING THE TOWN OF NARRAGANSETT TO FUND AFFORDABLE HOUSING IN THE TOWN OF NARRAGANSETT AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR
Provides that the city of Woonsocket not be required to accept additional residential properties subject to the alternative tax assessment due to its stock of affordable housing meeting the 10% housing requirement.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under § 44-5-13.1 relating to taxation of low-income housing.
Amends the definition of "low- and moderate-income housing" to include housing secured by a federal government voucher or subsidy, but only if the voucher or subsidy is applied prospectively.