Gibson Dunn | California's AB 2345 Expands and Enhances Density Bonus Law Development Incentives
January 26, 2021 For more than forty years, California’s Density Bonus Law (Government Code Section 65915 et seq.) has been a mechanism to encourage developers to incorporate affordable units within a residential project in exchange for density bonuses and relief from other base development standards. Effective as of January 1, 2021, Assembly Bill 2345 (“AB 2345”) amends the Density Bonus Law to expand and enhance development incentives for projects with affordable and senior housing components. AB 2345 is modeled after the City of San Diego’s Affordable Homes Bonus Program, and...
Source: gibsondunn.com