Quote:
Originally Posted by ardecila
I read Lightfoot's policy last night and had to do a double take; I'm glad I did, because it's easy to misunderstand. She's not proposing to change the percentage of affordable units in new developments. She IS proposing to decrease the amount of units that developers can buy their way out of, increasing the required on-site percentage from 25% to 50%.
So, for a 100 unit building, this would change the number of affordable on-site units from 3 to 5. Not a huge change and still far below the inclusionary zoning requirements in coastal cities. I'm sure it will kill the proforma for a few projects but all in all this is much better than Rosa and Guzzardi's favorite eat-the-rich proposals.
|
Ah good, that makes more sense, I only heard this on WBEZ this morning. The confusion was probably because the reporter doing the piece was a bumbling idiot clearly biased towards Toni.