2023 Rhode Island General Laws › Title 45 - Towns and Cities › Chapter 45-53 - Low and Moderate Income Housing › Section 45-53-3.2. - Approved monitoring agent program.

§ 45-53-3.2. Approved monitoring agent program.
(a)
There is hereby established an approved monitoring agent program (the “program”). Effective July 1, 2022, the Rhode Island housing resources commission (the “commission”) established pursuant to chapter 128 of title 42 shall appoint and oversee approved monitoring agents as part of this program.
(b)
On or before July 1, 2023, the commission shall promulgate rules and regulations pursuant to chapter 35 of title 42 (“administrative procedures”) for the implementation of the program, which shall include a process for the selection and approval of monitoring agents. These rules and regulations shall be prepared to ensure the selection and appointment of organizations that shall be capable of monitoring and ensuring that municipally subsidized housing developments remain affordable, and that income-eligible buyers and tenants are occupying these units. The commission shall appoint these monitoring agents, who shall serve for terms of not more than five (5) consecutive years; provided that, the term of an approved monitoring agent may be renewed by the commission.
(c)
As used in this section, the term “LMI” means low- and moderate-income housing and includes area median-income levels as established by the U.S. Department of Housing and Urban Development (“HUD”).
(d)
Specific duties of approved monitoring agents shall include, but not be limited to, the following:
(1)
To oversee, monitor, and ensure that tenants in LMI rental units meet income limits annually and that monthly rental rates are consistent with the low- and moderate-income guidelines and the recorded deed restrictions;
(2)
To oversee, monitor, and ensure that LMI homeownership units continue to serve as the owners’ year-round principal residences; monitor and ensure that any proposed refinance of a LMI unit during the period in which a deed restriction is in effect is in compliance with program requirements: in the case of the resale of any LMI unit during the period in which a deed restriction is in effect, the maximum sales price is consistent with the recorded deed restriction and that the proposed buyer of the LMI unit meets the income limits as defined within the recorded deed restriction;
(3)
To oversee, monitor and ensure any LMI accessory dwelling unit being counted is in compliance with the following requirements:
(i)
An annual lease; and
(ii)
The accessory dwelling unit is occupied by a household whose income does not exceed eighty percent (80%) of the area median income (AMI), adjusted for family size; and
(iii)
The cost of rent, heat, and utilities other than telephone, cable, and internet, based on the number of the bedrooms in the unit does not exceed thirty percent (30%) of the gross annual household income for a household with eighty percent (80%) or less of area median income, adjusted for family size as certified by the selected approved monitoring agent;
(4)
Any other provision contained in chapter 24 of this title that reasonably relates to affordable housing compliance and enforcement; and
(5)
Such other duties as the commission sets forth in its rules and regulations for the monitoring agents.
(e)
The commission shall also promulgate rules and regulations providing for the terms of engagement of the approved monitoring agents, standards for approval and recertification of the approved monitoring agents, and establish reporting requirements for the approved monitoring agents to the commission.
(f)
Commencing on or before January 1, 2023, and on or before January 1 thereafter, the commission shall prepare a report on the approved monitoring agent program to the governor, the speaker of the house, the president of the senate, and the secretary of housing.
History of Section.
P.L. 2022, ch. 411, § 2, effective June 30, 2022; P.L. 2022, ch. 412, § 2, effective June 30, 2022.