AN ACT RELATING TO TOWNS AND CITIES -- ZONING ORDINANCES

This bill amends existing law on inclusionary zoning, requiring towns and cities to ensure some developments include affordable housing. It mandates that developments exceeding ten dwelling units must allocate at least fifteen percent (15%) of their units as affordable housing, which must be comparable to market-rate units and remain affordable for at least thirty years. Municipalities can allow developers to meet this requirement through on-site construction, off-site building, land donation, or by paying a fee-in-lieu. The bill also provides a density bonus for on-site affordable housing and specifies how fee-in-lieu payments are calculated, used, and overseen by local authorities or transferred to the Rhode Island Housing and Mortgage Finance Corporation (RIHMFC).