Affordable Housing Bill SB 4
Affordable Housing Bill SB 4
Senate Bill 4 was signed by Governor Gavin Newsome on October 12th 2023 as a further effort to combat the housing crisis in California. This bill shortens the permitting/ building process for non-profit colleges and faith-based institutions when building affordable housing projects. This allows these institutions to more quickly build multifamily housing for low income families on their properties with out interference from from local zoning restrictions. In order to take advantage of SB 4 these institutions must keep to certain standards, like agreeing to retain the affordability by ensuring resident households are under 80% of the area’s median income and by keeping these income requirements for at least 55 years for rentals and 45 years for homeownership. By-right approval is also guaranteed as long as the project meets all objective standards of the jurisdiction and complies with listed environmental protections.
