RI S2705

Affordable housing units in inclusionary zoning developments must be of comparable size and quality to market-rate housing units

When a development triggers a requirement for one or more affordable housing units, those units must actually be created; fee-in-lieu payments are only permitted for fractional units

Eliminates the option for developers to pay a fee instead of building required whole affordable units, removing the previous $40,000 minimum per-unit fee provision

Average cost of developing affordable housing will be calculated annually based on Rhode Island Housing's per-unit development costs over the previous 3 years, excluding preservation financing

Municipalities must allocate fee-in-lieu funds within 3 years or transfer them to the state's Housing Production Fund for affordable housing development in that community