JumboBuc
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Boston is about 3,000 units below its Faircloth Limit (12,086 units). With about 25% of that cap still "on the table," Faircloth really isn't relevant to the current market.At the federal level, the Faircloth Amendment hamstrings growth of public housing by limiting the unit count to the number in existence on October 1, 1999. Without the means to increase the number of publicly funded units, we are stuck with the private sector. Yanking IZ removes one of the few tools available to get the private sector to fill the gap.
And Faircloth only caps federally-subsidized units, not all publicly funded units from state or local sources (or private via PPPs).