There is established within the city a homestead program in accordance with Chapter 45-44 of the General Laws of Rhode Island. A homestead board with all of the powers and duties of said law is created to administer the homestead program. The homestead board shall consist of five members to be appointed by the mayor for five year staggered terms, the initial board of five members to be appointed for terms of one through five years respectively. The board shall:
A. 
Compile and maintain a catalog of all unoccupied dwellings and vacant lots within the city which the board determines shall be parcels that can be utilized for rehabilitation or new construction by private individuals.
B. 
Accept and review applications from qualified persons and offer city owned parcels at no initial cost on a conditional deed basis, provided that the applicant:
1. 
Is at least eighteen (18) years of age and is the head of a family.
2. 
Is a citizen of the United States or a registered alien.
3. 
Proves financial and know-how ability to rehabilitate an existing dwelling or construct a new dwelling as the case may be.
4. 
Has contractually agreed to rehabilitate or construct on, as the case might be, the parcel assigned to him or her and further agrees to:
a. 
Bring the assigned parcel up to city housing standards within eighteen (18) months after assignment of the parcels to him or her; and
b. 
Permits periodic inspection by the city but not more often than once during any three-month period, for a determination by the city of whether reasonable, satisfactory progress is being made by the applicant in rehabilitating or constructing on the parcel assigned to him or her;
c. 
Surrenders and quits the assigned parcel in a condition at least equal to that when first assigned upon thirty (30) days notice by the city when, as a result of a periodic inspection, that city determines that the applicant has become unable or unwilling to proceed reasonably or satisfactorily towards fulfilling the objectives and conditions of this chapter; and
d. 
Lives in, occupies, and maintains as a one, two or three family dwelling to city housing standards the parcel assigned to him or her for a period of not less than three years.
C. 
Upon compliance with the above qualifications and directions, the board is empowered to grant a deed in fee simple to the applicant who qualifies for the assigned parcel.
(Prior code § 2-47)
The board is empowered and has the duty and responsibility to:
A. 
Review and publicize, by newspaper advertising or some other effective method, the availability of homestead program properties.
B. 
Accept and review applications and determine the qualifications of applicants within the criteria established by this chapter and the regulations promulgated hereunder.
C. 
Approve and certify applicants with a view towards compatibility of the applicant and the parcel assigned to him or her.
D. 
Approve and recommend the execution by the duly authorized officer of the city of a conditional deed to the assigned parcel upon the applicant being approved.
E. 
Approve and recommend the execution, by the duly authorized representative of the city of all documents necessary to convey fee simple title to the assigned parcel to the applicant upon the applicant's fulfillment of all conditions contained in this chapter.
(Prior code § 2-48)
No city official shall have any interest, financial or otherwise, direct or indirect, in the acquisition of any parcel of real estate under the homestead program established under this chapter.
(Prior code § 2-50)