AN ACT RELATING TO TOWNS AND CITIES -- QUALIFYING LOW- AND MODERATE-INCOME HOUSING -- TOWN OF WEST GREENWICH -- TAX STABILIZATION .

West Greenwich housing projects gain tax relief

Effective upon passage, this law lets West Greenwich approve full or partial property-tax exemptions or set stable tax amounts. Projects must occupy at least 12 acres of previously undeveloped land entirely within the town’s Exit 7 special management district. They must include at least 300 homes, with at least 25% deed-restricted for low- or moderate-income households. A project may span adjoining tax parcels and have multiple owners. Owners must submit a comprehensive permit application and request tax relief. The council must hold a public hearing with at least 10 days’ notice in a newspaper of general circulation. It must find that relief benefits the town and supports its goal of making 10% of year-round homes affordable. Approval authorizes a written agreement with the owner. Relief can cover land, improvements, and both deed-restricted and unrestricted homes. It starts on the first day of the fiscal year after the town issues a residential unit’s certificate of occupancy. Relief lasts for the approved term, up to 30 years, while the property remains qualified. It ends if the project loses the required 300 homes or 25% affordable share. The council can also end relief if property taxes remain delinquent more than 60 days after written notice to owners and mortgagees. Termination requires at least 10 days’ advance written notice.