Bill > AB939

This bill modifies existing law, known as the Density Bonus Law, which incentivizes developers to include affordable housing in their projects by granting them increased density (more housing units than normally allowed) and other benefits. Specifically, this bill expands the options for ensuring that for-sale units, which qualify a developer for a density bonus, remain affordable. Previously, these units had to be initially sold to income-qualified individuals or families, or if not sold within 180 days, purchased by a qualified nonprofit housing corporation. Now, the bill allows for compliance if the unit is purchased by a nonprofit corporation for properties intended for low-income families who participate in a below-market interest rate loan program, ensuring continued affordability for extremely low, very low, or lower-income families. This change aims to provide more flexibility in meeting affordability requirements while still promoting the development of affordable housing.

Budget and Finance, Housing and Urban Affairs, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB939