Changes the per-unit fee structure of affordable housing to 150 % of the cost of developing a single-family home or a condominium unit.

Plain-English Summary

This bill would change how fees are calculated for affordable housing developments in Rhode Island. Currently, when developers want to build affordable housing, they pay certain fees to local governments. This bill would set those fees at 150% of what it costs to develop a single-family home or a condominium unit — meaning affordable housing projects would pay fees based on one-and-a-half times the standard development cost of a typical home or condo.

The bill affects developers who build affordable housing, local towns and cities that collect development fees, and ultimately the people who need affordable housing in Rhode Island. By tying the fee structure to the cost of developing a single-family home or condo, the bill creates a standardized formula that municipalities would have to follow when charging fees for these types of projects.

It is worth noting that higher fees on affordable housing developments can increase the overall cost of building those projects, which could affect how many affordable units get built and how affordable they ultimately are for residents. The bill has been introduced and sent to the House Municipal Government & Housing Committee, where lawmakers will review and discuss it before deciding whether to move it forward.