Increasing the Duration of Affordability Requirements for New Affordable Housing
Brief
Shane Phillips
March 2020
Affordability requirements tied to tens of thousands of homes in LA will expire in the coming decades due to the limited duration of affordability covenants. Adopting permanent or 99-year affordability requirements in California would help maintain the affordable housing stock while preserving public funds. Longer affordability terms should be simple to enact for unsubsidized developments, but longer terms for subsidized housing may require more extensive changes to federal law or project financing structures.
