Rhode Island Needs A New Affordable Housing Law
Rhode Island struggles with the right mix of incentives for affordable housing.
"The controversy started last year, when lawmakers, responding to a shortage of affordable housing, gave private developers access to incentives once reserved for nonprofits. The incentives include a shorter application process, potential construction subsidies of up to $500,000 per project, and the potential for denser zoning -- if at least one of every five units is sold or rented at below-market rates. The change has spurred proposals to build about 2,000 new houses and condominiums, of which about one-fifth would meet the state's definition of affordable."
Thanks to John Flaherty
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Published on Monday, December 1, 2003 in
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