Section 45-53-3.1 - Formula to include non-income restricted multi-family rental units as low and moderate income housing(a) In calculating the number of year-round housing units towards meeting the goals of an excess of ten percent (10%) of the year-round housing units consistent with local needs required pursuant to § 45-53-4, rental units in multi-family housing built after the effective date of this section may be included as low or moderate income housing, in accordance with the following conditions: (1) At least thirty percent (30%) of the units created are deed restricted for households earning not more than sixty percent (60%) of the area median income, adjusted for household size; or(2) At least fifty percent (50%) of the units created are deed restricted for households earning not more than eighty percent (80%) of the area median income, adjusted for household size; and(3) The proposed affordable units meet all other requirements of this chapter to be calculated as low or moderate-income housing; and(4) All non-deed restricted units developed under the same comprehensive permit shall be included in the low and moderate income housing inventory as one-half (0.5) units each.(b) As used in this section and as applied to this chapter:(1) "Area median income (AMI)" means area median household income as defined by the U.S. Department of Housing and Urban Development, adjusted for household size.(2) "Multi-family housing'' means a building with three (3) or more residential dwelling units or two (2) or more buildings on the same lot with more than one residential dwelling unit in each building.R.I. Gen. Laws § 45-53-3.1
Added by 2022 Pub. Laws, ch. 386,§ 2, eff. 6/30/2022.Added by 2022 Pub. Laws, ch. 387,§ 2, eff. 6/30/2022.