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Exeter
Town of Exeter Zoning Ordinance
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§ 9.2

Assurance of affordability

  • A. Basic requirement. All affordable units provided created pursuant to this ordinance shall meet the definition of "low or moderate income housing" in article I, section 1.2 of this ordinance. The required minimum term of affordability shall be 30 years.

  • B. Eligible occupants. Ownership units shall be occupied by their purchasers as their primary residence and not rented for seasonal occupancy nor rented for any other occupancy except during temporary absences totaling not more than eight weeks in any 12-month period. Rental units may be leased only to households meeting the applicable income restrictions.

  • C. Qualification and monitoring. In order to assure that the occupancy and level of affordability of low or moderate-income housing units are maintained over time in accordance with this ordinance and with Rhode Island Housing regulations, the developer shall contract with a monitoring agent appointed by the R.I. Housing Resources Commission for the following purposes:

    • 1. To determine pricing for initial sale, resale, lease or sublease of affordable dwelling units;

    • 2. To qualify purchasers or renters for occupancy based upon household size and income;

    • 3. To assist in the development of a marketing and resident selection plan that meets state and federal fair housing requirements, to be approved by the Planning Board; and

    • 4. To monitor occupancy of the affordable dwelling units to ensure compliance with these requirements.

  • D. Long-term affordability. Long-term affordability shall be assured through a land lease or deed restriction, recorded in the land evidence records prior to the sale or lease of the affordable unit, addressing the following items:

    • 1. The basis for calculation of the maximum allowable sales or rental price for the housing unit both initially and on future buyers or renters;

    • 2. Provisions for monitoring and assurance of compliance over time; and

    • 3. Provisions under which the town may exercise a right of first refusal to purchase an affordable unit being offered for sale.

(Ord. of 9-4-07, § 2; Ord. of 12-4-2023(1))