Rhode Island S2705 mandates affordable housing in new developments and outlines methods for compliance.

Rhode Island S2705 amends zoning ordinances to require affordable housing in new developments. It specifies that affordable housing must be of comparable size and quality to market-rate housing and must be affordable to families earning up to 80% of the area median income. The bill sets a minimum per-unit fee for affordable single-family homes and condominiums at $40,000. It allows municipalities to use fee-in-lieu payments, zoning incentives, or municipal subsidies to offset the costs of affordable units.

Rhode Island S2705 mandates affordable housing in new developments and outlines methods for compliance.

Rhode Island S2705 amends zoning ordinances to require affordable housing in new developments. It specifies that affordable housing must be of comparable size and quality to market-rate housing and must be affordable to families earning up to 80% of the area median income. The bill sets a minimum per-unit fee for affordable single-family homes and condominiums at $40,000. It allows municipalities to use fee-in-lieu payments, zoning incentives, or municipal subsidies to offset the costs of affordable units.