Allows the town of North Providence to receive a one-half (1/2) credit for affordable housing units for manufactured homes in age restricted communities in conformance with all zoning laws and/or ordinances of the town.
Note
It should be noted that the legislation is set to take effect upon passage, which emphasizes the urgency of addressing housing needs within the state. Community leaders, developers, and housing advocates will need to monitor the effects of this bill on local housing markets and community dynamics.
Impact
The proposed law significantly impacts the calculation and qualification of affordable housing units within local jurisdictions. By providing a credit for manufactured homes, it aims to incentivize towns like North Providence to incorporate more affordable housing units into their planning and zoning frameworks. This alteration could lead to increased availability of affordable housing units for older citizens and those in need, contributing to the overall welfare of the community.
Summary
S2898, titled 'An Act Relating to State Affairs and Government – Rhode Island Housing Resources Act of 1998,' introduces amendments to allow the town of North Providence to receive a one-half credit for affordable housing units designated as manufactured homes specifically located in age-restricted communities. The bill aims to encourage the development of affordable housing options in compliance with local zoning laws and regulations.
Contention
While the bill intends to facilitate the growth of affordable housing, it may raise questions about the adequacy of the existing zoning framework and how local ordinances align with state mandates. Stakeholders may debate the effectiveness of such credits in genuinely increasing affordable housing stock versus merely altering the way these units are accounted for without substantial changes in delivery or accessibility.
Allows the town of Tiverton to allow a half (1/2) credit for affordable housing for manufactured homes in age restricted communities in conformance with all zoning laws and/or ordinance of the town.
Includes manufactured homes on leased land under a long-term lease in excess of thirty (30) years at the time of enrollment within the classification of affordable housing.
Includes manufactured homes on leased land under a long-term lease in excess of thirty (30) years at the time of enrollment within the classification of affordable housing.
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.
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.
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Allows a municipality to set its own conveyance tax rate for residential properties sold in excess of $900,000.00 at $10 per $500. Provides collected taxes to be in a restricted account and distributed within 2 years for affordable housing.
Amends the definition of affordable housing to create separate categories for housing using private or state financing as opposed to financing from the federal government.