(A) The nonutilization tax shall not be imposed on property owned by an abutter or nonprofit housing organization if:
(1) The abutter or nonprofit housing organization submits a proposed development plan which has been approved the Rhode Island Housing Resources Commission or the Rhode Island Housing and Mortgage Finance Corporation to the reviewing entity.
(2) The proposed development contains a reasonable time frame for the development or reuse of the property; and
(3) The reviewing entity determines that the proposed development plan is in accordance with the comprehensive plan of the town and approves it.
(B) The reviewing entity shall deliver a copy of the approved development plan to the Tax Assessor who shall certify the property as exempt from the nonutilization tax.
(C) Failure of the nonprofit housing organization or abutter without good cause, to carry out the development or reuse of the property in accordance with the time table set forth in the approved development plan shall result in the property being subject to the nonutilization tax as of the first date of assessment following the expiration of the timetable in the approved development plan.
(D) The decision of the reviewing entity denying any approval of a development plan may be appealed to the Board of Assessment Review.
(Ord. passed 9-2-03)