The Los Angeles Housing and Community Investment Department (HCIDLA) is happy to announce the release of the highly anticipated Affordable Housing Linkage Fee (AHLF) Study and draft ordinance. Back in October 2015, Mayor Eric Garcetti had proposed a Linkage Fee on new commercial and residential development to create Los Angeles’ first dedicated and locally generated affordable housing funding source. Since then, HCIDLA and the Department of City Planning (DCP) has worked in partnership with BAE Urban Economics to assess the financial feasibility across various markets in the City of Los Angeles, with the study presenting varying fee scenarios. To temper the effects on the real estate economy, the draft Linkage Fee ordinance proposes a $5 commercial fee and a $12 residential fee.
The expected boost to the Affordable Housing Trust Fund represents an amazing step forward, and puts us in a great position to continue marching towards the goal of providing affordable housing for all Angelenos!