Regional transit hub districts: downtown housing developments.
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 Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to boost downtown housing development by establishing ‘regional transit hub districts’ in California cities with significant public transit. It requires major transit cities to designate these districts, which must include a ‘downtown housing development’ meeting specific affordability and density requirements. The bill also creates a Downtown Revitalization Loan Fund to provide financial assistance for these developments and mandates a state-wide housing construction loan and financing study to be completed by December 2027. Finally, it addresses potential reimbursement requirements under the California Constitution.
Key provisions
- Requires major transit cities to designate regional transit hub districts.
- Defines ‘downtown housing development’ with specific requirements (density, affordability, etc.).
- Creates the Downtown Revitalization Loan Fund to provide loans for qualifying developments.
- Mandates a housing construction loan and financing study by the California Housing Finance Agency.
- Establishes streamlined ministerial approval for eligible developments.
- Sets minimum height and floor area ratio requirements for hub districts.
- Requires a phase I environmental assessment for developments.
- Provides for a state-mandated local program with no reimbursement required for certain costs.
Who is affected
- Cities with a population of 400,000 or more
- California Housing Finance Agency
Bill text
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