Kraft Unveils Affordable Housing Plan

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mandatory rent control proposal

bostonherald

•

Business

Business & Economics

Boston mayoral candidate Josh Kraft unveils plan to increase housing affordability, outlines optional rent control proposal

Summary

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80% Informative

Josh Kraft unveils plan to jumpstart construction of housing units that are not financially viable under Mayor Michelle Wu ’s policies, he says.

The plan involves incentivizing landlords to opt into a rent control program that he says would not require approval by state lawmakers on Beacon Hill .

Kraft is seeking to revert back to the inclusionary development policy that was in place under the former Mayor Marty Walsh administration.

Kraft would create a registry of all the units participating in such a program.

After a tenant moves out of a rent-controlled unit, the landlord would be allowed to adjust rents to match market-rate value.

A portion of the $100 million to $120 million in annual tax revenue would be used to fund the 20% reduction in property taxes for building owners.

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informal

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English

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