Jessica Hall of Mainbiz reports on how government mandates have hurt construction in Portland, Maine.
- In Portland, ME a local Green New Deal has disincentivized investments in local housing and construction.
- Under Portland’s Green New Deal, 25% of new construction for 10 or more units is required to be affordable.
- While well-intentioned, this policy will likely lead to fewer units being built and more expensive housing costs.
- Similar to housing, top-down government mandates for climate and energy policy often have unintended consequences. The best way to lower emissions and benefit our economy is through economic freedom.
“In 2020, prior to the new inclusionary zoning provision, 756 residential units were put on the planning books. In the roughly one year since passing the provision in November 2020, only 139 units had been put on the books — a decrease of 81.6%, according to a study by the Boulos Co.”
Read the full article here.