California AB2433 modifies the Density Bonus Law to incentivize affordable housing development.

California AB2433 amends the Density Bonus Law to incentivize the construction of affordable housing by allowing local governments to grant density bonuses. These bonuses are awarded based on the percentage of units designated for very low, low, and moderate-income households. The bill specifies that certain developments, such as those near transit stops or in low vehicle travel areas, may receive additional bonuses. It also outlines conditions for parking ratios and development standards, ensuring they do not adversely impact health, safety, or historical properties.

California AB2433 modifies the Density Bonus Law to incentivize affordable housing development.

California AB2433 amends the Density Bonus Law to incentivize the construction of affordable housing by allowing local governments to grant density bonuses. These bonuses are awarded based on the percentage of units designated for very low, low, and moderate-income households. The bill specifies that certain developments, such as those near transit stops or in low vehicle travel areas, may receive additional bonuses. It also outlines conditions for parking ratios and development standards, ensuring they do not adversely impact health, safety, or historical properties.