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Article: Affordable housing law should evolve, not evaporate
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- July 1, 2009
CopyrightCopyright 2009 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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OUR OPINION
News that developers have been illegally skimming excess profits
from affordable housing projects built under the state's Chapter 40B
law is a good reason to revise the law but does not justify a
pending campaign to repeal it.
The Senate Post Audit and Oversight Committee last month released
a report recommending changes that would help better track and audit
40B developments in the state. It also recommended that developers'
profits be limited to between 15 and 20 percent.
The committee's recommendations were spurred in part by testimony
from Inspector General Gregory Sullivan, who said millions of
dollars in excess profits might be owed to cities and towns by
developers who ...