When an applicant is creating five or more dwelling units, the applicant shall provide a detailed affordable housing report to the SPGA on the current status of the number and percent of affordable units listed under MGL c. 40B, §§
20 to
23, and the commonwealth's local initiative program. If the number of affordable units is below the percentage required under MGL c.
40B, the applicant shall provide a minimum of 10% of the total number of units as affordable. An affordable dwelling unit is a dwelling unit available at a cost of no more than 30% of the gross household income of households at or below 80% of the Bristol County median income as reported by the U.S. Department of Housing and Urban Development, including units listed under MGL c. 40B, §§
20 to
23, and the commonwealth's local initiative program. It is intended that the affordable housing units that result from this subsection be considered as local initiative program (LIP) dwelling units in compliance with requirements for the same as specified by the Department of Housing and Community Development and that said units count towards the City's requirements under MGL c. 40B, §§
20 to
23. A deed restriction on the future resale or maximum leasing or renting charged shall be required by the SPGA. In lieu of providing affordable units on site, the applicant play make a cash payment to the City of Taunton to be administered by the Affordable Housing Trust to be used to create housing units for low- and moderate-income households in the City. For each affordable unit that is not provided on site, the applicant shall deposit a sum equal to the estimated construction cost of such unit. The amount to be deposited under the preceding sentence may be reduced by vote of the Planning Board as part of site plan review, but only upon a positive recommendation from the Office of Economic and Community Development, with any such reduction being based on a written evaluation showing that the project will clearly advance the purposes of the TOD District as set forth in § 440-1741 of the Zoning Ordinance, and that providing such reduction is required for the project's economic viability.
[Amended 6-6-2016; 11-29-2022; 5-21-2024]