Requires that affordable housing would be provided for with some developments.
Impact
The bill could significantly affect local regulations by establishing statewide requirements for affordable housing across municipalities. This would mean that local governments must comply with these new standards, potentially leading to increased affordable housing units in areas where market-rate housing predominates. Additionally, the legislation outlines methods for developers to fulfill their affordable housing obligations, such as on-site construction, off-site creation, or payments in lieu of building affordable units.
Summary
S0717 aims to amend existing zoning ordinances to mandate the inclusion of affordable housing in new developments. Under the proposed legislation, a minimum of fifteen percent of the total units in a development must be designated as affordable housing, remaining so for at least thirty years. The bill defines affordable housing based on income levels, specifically for families at or below eighty percent of the area median income, reflecting a significant step towards addressing housing shortages in Rhode Island.
Contention
Some points of contention may arise regarding the implementation and adequacy of the measures established by S0717. Critics could argue that the mandatory fifteen percent requirement may not adequately address the broader housing crisis, while supporters may push back arguing it is a necessary first step. Additionally, the provisions for flexibility in implementing these requirements, such as the option for fee-in-lieu, could spark debates around the effectiveness of such alternatives in truly fostering affordable housing opportunities.