SECTION 1. Title 45 of the General Laws entitled "TOWNS AND CITIES" is hereby amended by adding thereto the following chapter: 45-53.1-1. Title. This chapter shall be known and may be cited as the "Coventry's New Construction Projects Act." 45-53.1-2. Definitions. For the purposes of this chapter, the following words and terms shall have the following meanings:
(1) "Bonus units" means additional residential units approved by the town of Coventry as part of a development project in accordance with the town's zoning and development policies.
(2) "Building permit" means a permit issued by the town of Coventry granting authorization for the commencement of construction on a project.
(3) "Certificate of occupancy" means a certificate issued by the town of Coventry confirming that a building has been completed in compliance with all building codes and is safe for occupancy.
(4) "Final approval" means the final authorization given by the town of Coventry following successful completion of all necessary review and approval processes for a development project.
(5) "Preliminary approval" means the initial approval granted to a development project after review and recommendation by the appropriate municipal authority. 45-53.1-3. Timelines for approval and permitting.
(a) In the town of Coventry, the period between the granting of preliminary approval and the granting of final approval for a development project shall not exceed one year.
(b) In the town of Coventry, the period between the granting of final approval and the issuance of a building permit shall not exceed two (2) years.
(c) In the town of Coventry, if the applicant does not request a building permit within the two (2) year period following final approval, the application and vesting shall be considered void. The development process shall need to be restarted, and the applicant will need to resubmit a new application for review and approval. 45-53.1-4. Temporary addition of units to town's total unit count.
(a) In the town of Coventry, once an applicant requests a building permit, the number of units approved for the development, including any bonus units, shall be temporarily added to the total unit count. This count shall be included in the town of Coventry's current housing inventory.
(b) The units, including bonus units, shall be permanently added to the town of Coventry's unit count upon the issuance of a certificate of occupancy for the development or three (3) years from the date of the request for a building permit, whichever occurs first.
(c) The town of Coventry shall be allowed to count the units, including bonus units, against other new developments while the construction is ongoing. This allowance shall ensure that the town of Coventry remains in compliance with its housing and development goals, while still providing flexibility to the applicant during the construction phase.
SECTION 2. This act shall take effect upon passage.