AB 2480

Existing law, commonly referred to as the Density Bonus Law, requires a city or county to provide a developer that proposes a housing development, as defined, within the city or county with a density bonus and other incentives or concessions, as specified, if the developer agrees to construct, among other options, 20% of the total units, as defined, for lower income students in a student housing development that meets certain requirements. These requirements include, among other things, that all units in the student housing development be used exclusively for undergraduate, graduate, or professional students enrolled full time at an institution of higher learning, and the developer, as a condition of receiving a certificate of occupancy, provide evidence to the city, county, or city and county that the developer has entered into an operating agreement or master lease with one or more institutions of higher education, as specified. This bill would require a city, county, or city and county to provide an additional density bonus, as specified, if the student housing development meets the above-described requirements for a student housing development, the student housing development provides 24% of the total units to lower income students, and the applicant agrees to include additional rental units affordable to lower income students or moderate-income students, as defined, provided that the resulting student housing development would not restrict more than 50% of the total units to moderate-income or lower income students. By imposing new duties on local governments, the bill would impose a state-mandated local program. The bill would include findings that changes proposed by this bill address a matter of statewide concern rather than a municipal affair and, therefore, apply to all cities, including charter cities. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.