Bill > AB874

This bill, amending the Mitigation Fee Act, aims to provide financial relief for certain affordable housing developments by allowing local agencies to offer options for development impact fees, which are fees collected to fund public improvements or facilities. Specifically, for "qualified residential rental projects" (developments where 100% of units are reserved for lower-income households at affordable rents) and "qualified residential ownership projects" (developments where 100% of units are reserved for lower or moderate-income households at affordable housing costs), local agencies must provide the option of either setting these fees at $0 or offering a deferral agreement loan with specific terms, such as a low interest rate and a long repayment period. The bill also includes a provision to waive fees for residential developments with a regulatory agreement that reserves at least 49% of units for lower-income households at affordable rents for at least 55 years, with exceptions for school facility fees and fees related to code enforcement or inspection services.

Government Affairs, Housing and Urban Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB874