A de Blasio administration proposal requiring developers to include affordable apartments in their market-rate projects includes a legislative escape hatch that critics say would let builders too easily dodge the mandate.
The mandatory inclusionary housing policy is meeting opposition as it moves through the public-review process. Should the City Council approve it, developers would be required to devote up to a third of new projects' apartments in the city's affordable-housing program if the value of their property is increased by the city allowing more floor space or a change of use.
The proposal, which aims to shift the burden of building affordable housing to the private sector, also includes a passage describing when mandatory inclusionary housing isn't actually mandatory. If developers believe that the affordable housing would prevent them from making a reasonable profit, they can appeal and have the requirements reduced or eliminated.
And on top of this, people are asking where the Environmental Impact Statement is for this plan.