Newsom signs incentives bill for affordable housing developers

0
74
SAN DIEGO (CNS) - Gov. Gavin Newsom Monday, Sept. 28 signed into law Assembly Bill 2345, written by Assemblywoman Lorena Gonzalez, D-San Diego, to incentivize developers to increase the number of affordable housing units built in the state. ``This law will encourage the construction of more affordable housing units using a data-proven mix of incentives and density bonuses,'' Gonzalez said. ``We must stop making excuses for our housing crisis and it starts with creating more housing, period.'' AB 2345 allows developers to increase their density bonuses -- the number of units permissible on any plot of land -- to 50%, depending on the number and level of deed-restricted affordable homes on a piece of property. Under existing density bonus law, developers are able to receive up to a maximum
Subscribe or log in to read the rest of this content.