- Associated Press - Tuesday, March 15, 2016

NEW YORK (AP) - New York City has taken a big step toward a new zoning plan that would create more affordable housing.

The City Council has secured concessions from the administration of Mayor Bill de Blasio.

More details are being worked out. But Speaker Melissa Mark-Viverito says she’s “comfortable” the plan will pass the full council next week.

The Wall Street Journal (https://on.wsj.com/251G3Ky ) says developers’ projects must now include some apartments affordable to residents who make 40 percent of the area’s median income - about $31,000 for a family of four. De Blasio’s initial proposal placed that number at 60 percent - or $47,000.

De Blasio calls the agreement a “watershed” moment.

An opposing coalition called Real Affordability for All has now given its support.


Information from: The Wall Street Journal, https://www.wsj.com

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