Proposed affordable housing fee for LA developers advances

Los Angeles Mayor Eric Garcetti’s controversial plan to charge a fee on new construction to pay for subsidized housing got a big push forward Tuesday, thanks to a key endorsement from a City Council panel.

The council’s Planning and Land Use Management Committee voted 5-0 to approve the so-called “linkage fee,” which city officials said could raise up to $114 million a year for affordable housing.  The city’s housing department estimated that the money would produce or preserve an additional 1,700 units a year, helping the city meet its annual goal of some 4,000 units for low-income households.

Read Full Article (via SCPR)

What's your reaction?
to top