LA leaders approve developer ‘linkage fee’ to boost affordable housing projects (Los Angeles: condominiums)

[jm1982]

So they are going to make developers pay even more to build in L.A.. but this is going to make housing more affordable?
Market rate housing will cost even more now .

Also Garcetti called for this fee two years ago to address the homeless crisis . So this is going to benefit mostly the homeless ?

Also funny he said the money will help build housing for "the rest of us " as if he's living in poverty . He's a multi millionaire that owns multiple properties including an investment property he picked up last year for $1.6 million .

Business and building industry doesn't think this is a good idea .
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A new fee on construction projects that is estimated to raise as much as $100 million in funds each year to help spur the creation of more affordable housing was approved Wednesday by the Los Angeles City Council.

City officials say Los Angeles had been the only major city in California without such a fee. Mayor Eric Garcetti first called for the city to institute such a fee two years ago, as part of a plan to address the city’s growing homeless crisis.

He said that this initiative provides “hope” that as Los Angeles grows, it also “grows for everybody, and when we see luxury condominiums go up we can make sure there is money paid in to build housing for the rest of us as well.”

But business and building industry groups that oppose the fee argue it would actually slow down the much needed affordable housing construction that the initiative is aimed at increasing.

LA leaders approve developer ‘linkage fee’ to boost affordable housing projects – Daily News

[Exitus Acta Probat]

Originally Posted by jm1982

Also Garcetti called for this fee two years ago to address the homeless crisis . So this is going to benefit mostly the homeless ?

LOL! Yeah, I'm sure all the mentally deranged people who hate having structured lives due to their alcoholism, etc., are living on the streets simply because housing costs too much, so this will solve it. Way to go, Eric...