IZ in theory: we will take some of these rich developers' profits and force them to use the money for affordable housing.
IZ in practice: developer profit margins are the same, rent is higher, and middle-class renters have to fund affordable housing while actual rich people pay nothing.
IZ in practice: developer profit margins are the same, rent is higher, and middle-class renters have to fund affordable housing while actual rich people pay nothing.
Reposted from
Joe Cohen
I want the concept of inclusionary zoning to work, but then when I do the math, it really ends up just looking like a tax on renters
(policy illustrated here is 20% VLI @ HCD rents, rounded down)
(policy illustrated here is 20% VLI @ HCD rents, rounded down)
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