Community Anti-Displacement and Preservation Program.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill establishes the Community Anti-Displacement and Preservation Program (CAPP) to fund the acquisition and rehabilitation of unrestricted housing while safeguarding against displacement. The program will be managed by a private sector entity selected through a competitive process, and the department will issue grants or loans to local public entities to further support eligible borrowers. The bill also creates a dedicated fund for the program and includes tenant protections for projects funded through CAPP.
Key provisions
- Establishes the Community Anti-Displacement and Preservation Program (CAPP) to fund housing acquisition and rehabilitation.
- Requires the department to select a private sector entity to manage the program for five years.
- Authorizes the department to grant funds to local public entities for loans to eligible borrowers.
- Creates a State Treasury fund to support the program.
- Includes tenant protections under state law for projects funded through the program.
- Requires the department to develop technical assistance and capacity building for project developers.
- Establishes requirements for annual rent increases to ensure affordability.
- Specifies eligibility criteria for borrowers, including nonprofits, community land trusts, and limited-equity housing cooperatives.
Who is affected
- Housing developers
- Low-income households
Bill text
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