Specifies that low and moderate income housing exists when a city or town has adopted an inclusionary zoning ordinance requiring that all housing developments include at least fifty percent (50%) low or moderate income housing units.
Impact
If enacted, S0502 will have a significant impact on local zoning laws and housing policies. By enforcing inclusionary zoning requirements, municipalities will be required to ensure that a substantial portion of new housing developments consists of affordable units. This could potentially lead to an increase in the supply of affordable housing, helping to alleviate housing shortages for low and moderate income families. Additionally, the bill might encourage more cohesive community planning, ensuring that affordable options are integrated into new developments rather than segregated or excluded altogether.
Summary
Bill S0502 seeks to amend existing statutes concerning low and moderate income housing in Rhode Island. It specifies that low or moderate income housing is defined as existing only when a city or town has adopted an inclusionary zoning ordinance that mandates all housing developments to include a minimum of fifty percent (50%) low or moderate income housing units. This legislative change is aimed at addressing the urgent need for affordable housing in municipalities across the state, facilitating increased availability and accessibility for lower-income families and individuals in the housing market.
Contention
Notably, the bill's discussion is expected to bring forth points of contention regarding local control and the feasibility of such requirements on developers. Advocates for the bill argue that it addresses the significant housing crisis, while opponents may raise concerns about potential challenges for developers who may find it financially difficult to comply with such stringent requirements. The requirement for significant low-income unit percentage could lead to resistance from developers and municipalities that are wary of the financial implications for future projects.
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.