As Ronald Reagan might have said, 'There they go again.' From The Wall Street Journal:
LOS ANGELES—This city became the latest major U.S. municipality to require that developers include affordable housing in new projects—a move hailed by advocates, but one that builders say could crimp the supply of homes in the nation’s second-largest housing market.
Policy makers in cities around the U.S. are turning to so-called inclusionary zoning programs to ensure developers set aside housing units for residents who couldn’t otherwise afford to live there.
Nearly two-thirds of Los Angeles voters last week approved a citywide affordable-housing requirement for developers seeking to build projects of 10 or more units that need a zoning or height change.
The rule requires that up to 25% of units in rental properties and up to 40% in for-sale projects meet affordability guidelines. Alternatively, developers can pay a fee to the city.