Bill > H5383

This bill authorizes the city of Watertown to adopt an affordable housing linkage fee. The key provisions are: 1. The city may require the payment of an affordable housing linkage fee for any non-residential development, including the commercial portion of a mixed-use project, that requires zoning relief and exceeds a square foot threshold set by the city council. 2. The initial linkage fee shall not exceed $18 per square foot and may be adjusted over time based on changes in the Consumer Price Index (CPI-U). The initial square foot threshold is set at 30,000 square feet, and both the fee and threshold will be reviewed and reset at least every 5 years. 3. The city may create a separate revolving fund account to hold the affordable housing linkage fees, which will be administered and expended by the trustees of the city's municipal affordable housing trust fund. The bill aims to provide a funding mechanism for the city of Watertown to support the development of affordable housing in the community.

https://malegislature.gov/Bills/192/H5383