The Planning Board, sitting as the "local review board," shall
act on all applications seeking a comprehensive permit pursuant to
R.I.G.L. § 45-53 or any successor thereto. There shall be
a limit on the annual calendar-year total number of dwelling units
in comprehensive permit applications from for-profit developers to
an aggregate of 1% of the total number of year-round housing units
in the Town, as recognized in the Town's Affordable Housing Plan.
The local review board shall not hear applications which exceed the
stated limit. Notwithstanding the timetables set forth in R.I.G.L.
§ 45-53-4, the local review board shall consider comprehensive
permit applications from for-profit developers sequentially in the
order in which they are submitted.