Matthew McDonough

Babylon IDA gets serious about affordable housing

The Babylon Industrial Development Agency has adopted a “landmark provision” designed to address one of the Long Island innovation economy’s great needs: affordable housing. The Babylon IDA on Tuesday passed what it called a “significant policy initiative” targeting future housing developments within town borders. Designed in collaboration with the Long Island Housing Partnership, the policy requires that owners of new developments applying for IDA benefits meet a 20 percent affordable-housing requirement – meaning at least…