A variety of union leaders have rallied behind a proposal that would require developers to set aside 15 percent of the housing units they build for low- and moderate-income workers. The measure would apply to new projects or condo conversions with at least 10 units.
An earlier version of the proposal did not have enough support, with only 17 aldermen behind it. The latest measure has the backing of 23 aldermen. Under the plan, developers would receive tax incentives to make up for profits lost in building the affordable units.
If the ordinance had been law from 1998 to 2003, it would have resulted in 7,000 additional units of affordable housing, according to local nonprofit Business and Professional People for the Public Interest.
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