While a previous proposal increased the amount of on-site affordable housing for up to 20%, the policy approved at its Oct. 17 meeting calls for 30% of residential units in newly-built and “rehabilitated projects” (revitalizations of structural systems that result in at least three tenants vacated for at least 15 days) to be set at below market rates. Two-thirds of which are reserved for very low-income households while the rest are for ones deemed either low- or moderate-income.

Read More: https://smmirror.com/2023/11/revised-policy-increases-affordable-housing-requirements-in-marina-del-rey/