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

California AB2433 amends the Density Bonus Law to incentivize the construction of affordable housing by allowing local governments to grant density bonuses and other incentives. These incentives include reduced parking requirements and increased density allowances for developments that meet specific criteria, such as being near transit stops or including a certain percentage of affordable units. The bill also outlines how density bonuses and parking ratios are calculated based on the number of affordable units and the location of the development.

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

California AB2433 amends the Density Bonus Law to incentivize the construction of affordable housing by allowing local governments to grant density bonuses and other incentives. These incentives include reduced parking requirements and increased density allowances for developments that meet specific criteria, such as being near transit stops or including a certain percentage of affordable units. The bill also outlines how density bonuses and parking ratios are calculated based on the number of affordable units and the location of the development.