One unit for each 10 residential units in all new development projects that include 10 or more residential units created through new construction or addition to existing buildings must be affordable units. Developers of such projects are required to provide affordable units on-site. Affordable units must be affordable to a low- or moderate-income household, i.e., a household with income at or below 80% of area median income (AMI), adjusted for household size, for the metropolitan area that includes the Town of North Reading, as determined by the United States Department of Housing and Urban Development (HUD).
Affordable units shall meet the requirements of the Executive Office of Housing and Livable Communities (EOHLC) Local Initiative Program (LIP) for inclusion on the Chapter 408 Subsidized Housing Inventory.