Plain-English Summary
This legislation specifically targets the town of Tiverton regarding its available housing stock. It mandates that if the town has not met the state requirement of having at least 10% of its housing classified as affordable, stricter development rules apply. Specifically, any new development project approved in Tiverton must designate at least 50% of its units as affordable housing. This requirement for developers remains in effect until Tiverton reaches the 10% threshold for affordable housing inventory required by state law.
This law creates a strict rule for builders in the town of Tiverton. The state wants every town to have enough homes that cost less money, so that more people can afford to live there. Right now, Tiverton needs more of these homes. This law says that until the town has enough lower-cost homes, any builder who wants to build a new neighborhood there must make sure that half of the new homes are affordable. This helps ensure there are places to live for people who don't have a lot of money.