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.
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
Establishes a housing land bank program with the goal of creating affordable housing in the State of Rhode Island. The housing land bank would have the authority to buy, receive and hold property in furtherance of this goal.
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
Establishes a housing land bank program with the goal of creating affordable housing in the State of Rhode Island. The housing land bank would have the authority to buy, receive and hold property in furtherance of this goal.
Provides that only residential properties and new or rehabilitated residential affordable housing units would be subject to the tax under ยง 44-5-13.1 relating to taxation of low-income housing.