from today's South Florida Sun-Sentinel (5/14):
Palm Beach County sticks with price rules on new housing
Critics argue falling market makes price limits needless
By Andy Reid
May 14, 2008
"Two years of sliding home values failed to persuade Palm Beach County commissioners on Tuesday to do away with affordable housing requirements for new development.
Developers pushed for the elimination, or at least suspension, of mandated price limits the county has imposed on some new homes for the past two years.
The rules, approved at the height of South Florida's real estate boom, are intended to reserve a percentage of homes in new neighborhoods for "work force housing" — envisioned for teachers, police officers, young professionals and others getting priced out of Palm Beach County.
So far, the county's requirements have yet to produce any of the homes, but officials blame that on the slowdown in home construction across the country. More than 500 of the homes, to be priced between $164,000 and $304,000, have been approved or are on the drawing board." ...
for the complete story
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