The allowed mix of uses may be modified as follows if certain public amenities or affordable housing are provided.
(A) The maximum allowed GLFA dedicated to residential use, not including hotel or motel uses, may be increased up to 75% if a minimum of 10% of the proposed residential units are affordable, meeting the definition of "low or moderate income housing" as defined in this chapter and in the Low and Moderate Income Housing Act, R.I. Gen. Laws § 45-53.
(B) The maximum allowed GLFA dedicated to retail commercial use may be increased up to 50% if a minimum 25% of developable land area of the parcel(s) is conserved open space for use as a public park, agriculture, or natural open space. Such open space land shall consist of parcels at least one acre in size and shall be subject to a conservation easement.
(C) Where the proposed project or portion of a project obtains certification in a recognized green building program the project may take advantage of a property tax incentive as follows in addition to any tax incentives than may apply to the project under the town's economic development incentive program, Chapter 39. Such tax incentives will take effect upon the issuance of a certificate of occupancy and demonstrable proof of qualifying certification subject to the approval of the Tax Assessor. The abatement shall apply only to the building tax assessment for those buildings earning certification.
Green Building Tax Abatement Incentive
| ||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6+ | |
Tier 1 | 20% | 16% | 12% | 8% | 4% | 0% |
Tier 2 | 15% | 12% | 9% | 6% | 3% | 0% |
Tier 3 | 10% | 8% | 6% | 4% | 2% | 0% |
Tier 4 | 5% | 4% | 3% | 2% | 1% | 0% |
Green building certification programs are assigned in the following tiers: Tier 1: LEED Platinum, Green Globes Four, BREEAM Outstanding, and Living Building Certification or equivalent certification. Tier 2: LEED Gold, Green Globes Three, BREEAM Excellent, Net Zero Certification, and Living Building Petals Certification or equivalent certification. Tier 3: LEED Silver, Green Globes Two, BREEAM Very Good, and Passive House Institute United States Certification or equivalent certification. Tier 4: LEED Certified, Green Globes One, BREEAM Pass, and BREEAM Good or equivalent certification. | ||||||
(Ord. 2018-16, passed 9-4-18)