Developers temporarily will be unable to build housing for extremely low-income households as City Hall refines its affordable housing rules.

The City of Santa Monica requires developers to include affordable units in their projects or pay into an affordable housing fund. For the past seven years, they have had the option to set aside five to 7.5 percent of the units for households making 30 percent of the Los Angeles area’s median income, depending on the project’s size, rather than including more affordable units restricted for households making 50 or 80 percent of the median income.

Council believes the option incentivizes developers to include the smallest number of affordable units possible and voted Tuesday to suspend that option while the City revises the Affordable Housing Production Plan.

Read More: https://www.smdp.com/council-passes-temporary-ban-on-new-extremely-low-income-housing/173866