California AB939 allows density bonuses for housing development if for-sale units are preserved for lower income families.

California AB939 modifies housing development regulations to allow density bonuses if for-sale units are preserved for lower income families. The bill requires that these units be sold to a nonprofit housing corporation that agrees to maintain affordability restrictions. The nonprofit must ensure the property remains for lower income housing for at least 45 years and is resold only to extremely low, very low, or lower income families. The bill also outlines how the local government's initial subsidy and proportionate share of appreciation are calculated and recaptured upon resale.

California AB939 allows density bonuses for housing development if for-sale units are preserved for lower income families.

California AB939 modifies housing development regulations to allow density bonuses if for-sale units are preserved for lower income families. The bill requires that these units be sold to a nonprofit housing corporation that agrees to maintain affordability restrictions. The nonprofit must ensure the property remains for lower income housing for at least 45 years and is resold only to extremely low, very low, or lower income families. The bill also outlines how the local government's initial subsidy and proportionate share of appreciation are calculated and recaptured upon resale.