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Affordable Housing Required for Development on L.A. City Properties
"Starting January 1, new homes built on city-owned land will have to provide the most affordable units possible, a move that one local nonprofit calls a ‘necessary step’ toward addressing the critical shortage of available housing for low-income Angelenos," reports Bianca Barragan.
The new rule would require that 100 percent of units in new developments be affordable, unless a mix of housing would provide more affordable units.
"For example, if the city gets two development proposals, one for 50 affordable units and one for 10 market-rate units and 60 affordable units, it will select the latter," says Barragan.