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Mayor's office outlines revisions to Inclusionary Housing procedures to speed sales and strengthen rental monitoring
Summary
The Mayor's Office of Housing presented updates to the Inclusionary Housing Procedures Manual, proposing loan preapproval, a pricing cushion for new ownership units, expanded rental monitoring and land-dedication rules; the changes will require conforming ordinance amendments and return for formal approval.
The Mayor's Office of Housing presented a package of changes to the city's Inclusionary Housing Procedures Manual on Nov. 8, describing a mix of consumer-facing clarifications and developer-focused adjustments intended to speed sales and strengthen monitoring.
Shaundra Egan of the mayor's housing office said the manual clarifies financing rules and adds a loan preapproval requirement for buyers to make sale transactions quicker and more reliable: "We've collected about $50,000,000 in affordable housing fees through the program to build…
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