Bill > LD1926

This bill requires municipalities to promote workforce housing by mandating increased housing density and allowing lower minimum lot sizes for developments that provide housing to households earning less than 220% of the area median income (AMI), as defined by the U.S. Department of Housing and Urban Development. Specifically, the bill establishes a tiered system where developers can receive density increases or reduced lot size requirements based on the income levels of potential residents, ranging from 80% to 220% of AMI. For example, developments targeting households between 80-100% AMI can receive up to a 75% density increase, while those targeting 181-220% AMI can receive a 30% density increase. Municipalities must allow these workforce housing developments in areas where single-family or multifamily housing is permitted and cannot require more than one parking space per three units. Developers must record a restrictive covenant with the local registry of deeds, committing to maintain the income-restricted units for 30 years, and must keep documentation proving tenants or buyers meet the income requirements. The bill also ensures that these developments are considered compliant with existing affordable housing requirements and that tenants or owners can remain in their units even if their income later exceeds the initial qualification threshold.