Baltimore Passes Inclusionary Housing Bill

15 June 2007 - 9:00am

The Baltimore City Council has approved an inclusionary housing bill requiring developers to designate a certain portion of new developments as affordable. Proponents say the measure is flawed, but a good first step.

"By forcing developers to include a percentage of low-cost apartments or houses in certain projects, the inclusionary housing bill attempts not only to create more affordable places but to make sure they aren't clustered in certain parts of the city."

"Advocates are quick to acknowledge, however, that the bill is less than perfect - its loopholes and insubstantial funding leave questions about how many affordable homes really will be created. They tend to call it a 'first step' rather than a solution."

"Despite the backing of a coalition with such political sway, City Hall has had a hard time accepting the proposal, mainly because of fears it would chill development."

Source: The Baltimore Sun, June 12, 2007
Bookmark and Share
There is lots of theory, and lots of wonderful mathematics, and even lots of dealmaking. But the financial engineers are not real engineers who take responsibility for the bridges that fall down. They have no notion of a safety factor.