In the midst of a housing crisis, L.A. politicians have decided to limit their own incentives to allow more housing construction.
By Christian Britschgi | Reason
In the midst of an affordable housing crisis, Los Angeles politicians have decided to reduce their own incentives to approve more development. On Wednesday, the city council voted unanimously to ban developers from donating to candidates for city offices.
Under the new law, people and companies seeking discretionary city approval for real estate projects would be forbidden from donating to anyone running for mayor, city council, or city attorney while their project application is pending, and up to 12 months after it’s approved.
Also barred from making campaign contributions are the corporate executives of development companies and investors who own up to 20 percent of these companies.