During the Newport City Council's regular meeting on April 9, 2025, significant discussions centered around proposed amendments to rental agreements for the Cogtail Sewell Building, highlighting ongoing efforts to address housing affordability in the city.

The council considered a motion to amend existing provisions related to rent caps, which would affect 40% of the units in the building, specifically targeting 11 out of 26 units. The majority of these units are one-bedroom apartments, with only two being two-bedroom units. The proposed amendments aim to maintain rental rates within the limits set by Rhode Island housing workforce guidelines for a period of ten years. After this period, rents are expected to transition to market rates, a point that raised questions among council members regarding future affordability.

Peter Regan, representing BCM Realty Partners, clarified that while the current plan caps rents for a decade, the market conditions at that time remain uncertain. This discussion reflects broader concerns about housing availability and affordability in Newport, as the city grapples with increasing demand for residential units.

The council unanimously approved the amendments, indicating a collective commitment to balancing development with the need for affordable housing options. As the meeting progressed, additional amendments were proposed, suggesting that the council is actively seeking to refine and enhance housing policies.

The meeting concluded with an invitation for public comments, emphasizing the council's intention to engage with community members on these critical issues. The discussions from this meeting underscore the ongoing challenges and strategic planning efforts aimed at ensuring that Newport remains a viable place for residents of varying income levels.