Mayor Wu Proposes Inclusionary Zoning Changes to Ease Developers’ Financial Burden
Boston Mayor Michelle Wu on Tuesday announced proposed changes to Boston’s Inclusionary Zoning (IZ) and Linkage policies aimed at helping new housing and commercial development move forward amid challenging economic conditions. The changes are intended to help some residential developments move forward while continuing to raise revenue for city-supported affordable housing projects.
The city is proposing the following changes to Inclusionary Zoning:
- Extending the payment schedule for affordable housing payments from two installments to seven installments.
- Reducing the condominium payment-in-lieu fee from 75% to 50% of the difference between market-rate and income-restricted unit values.
- Temporarily raising the threshold for projects subject to Inclusionary Zoning from seven to ten units for two years.
- Changing the offsite radius from 0.5 miles in the zoning to MOH policy.
“We recognize that the cost of building housing has increased, and we want to be responsive to these realities,” said Sheila A. Dillon, Chief of Housing. “These program changes are designed to encourage the development of new housing while maintaining our commitment to affordability.”
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