Folsom, CA — Citing the hard-hit real estate market as a deciding factor, city leaders ended an eight-year affordable housing policy.
Folsom City Council members unanimously approved the second reading of the Inclusionary Housing Ordinance last week, council members said they considered it an outdated affordable housing requirement placed on builders.
After 30 days, it takes effect.
Any residential projects approved after Feb. 24 will not be subject to the Inclusionary Housing Ordinance, effectively ending the affordable housing requirement on developers.
The Inclusionary Housing Ordinance used to provide all development projects of 10 or more units set aside 15 percent of the total number of units to be affordable-to-low income (5 percent) and very low-income (10 percent) households.