Plain English Breakdown
The exact amount of additional density bonus developers will receive is not specified in the provided summary.
Student Housing Development Bonus
AB-2480 modifies the requirements for cities and counties to offer density bonuses to developers who build student housing developments, including new rent rules and additional incentives.
What This Bill Does
- Revises the rent calculation requirements for lower-income students in student housing developments.
- Requires cities and counties to provide an extra density bonus if a developer agrees to include more units that are affordable to low- or moderate-income students, but not exceeding 50% of total units.
Who It Names or Affects
- Developers who want to build student housing developments
- Cities and counties that decide on housing development projects
Terms To Know
- Density Bonus Law
- A law allowing cities or counties to give developers extra units if they agree to include affordable housing for lower-income individuals.
- Student Housing Development
- Housing built specifically for full-time college, graduate, or professional students.
Limits and Unknowns
- The bill does not specify the exact amount of additional density bonus developers will receive.
- It is unclear if all cities and counties will comply with these new requirements.