Housing development: incentives.
The bill introduces several financial incentives for developers, such as an exemption from the California Environmental Quality Act and a 35% density bonus, which are intended to enhance financial feasibility and promote the construction of middle-income housing. Furthermore, local agencies must provide a project proforma demonstrating that requested incentives are necessary for the project's viability. This may lead to an increase in affordable housing stock, specifically aimed at households with moderate incomes, and addresses the urgent housing crisis faced in the Bay Area.
AB1706, introduced by Assembly Member Quirk, aims to provide additional processes and incentives for affordable housing development in the San Francisco Bay Area. The bill facilitates a streamlined approval process for multifamily housing developments that meet specified criteria, particularly focusing on projects that allocate at least 20% of housing units to households earning no more than 150% of the area median income. This effort is designed to alleviate the severe shortage of affordable housing in this region, recognized as a matter of statewide concern, thus applying to all cities within the Bay Area.
The sentiment surrounding AB1706 appears to be generally supportive among proponents who view it as a critical step towards increasing affordable housing options. However, there are concerns regarding the potential impacts on local governance, particularly about how local agencies might respond to state mandates and the balance between state and local authorities over housing regulations. The discussions reflect a complex interplay between the need for increased housing availability and the preservation of local community standards.
Notable points of contention include worries about whether state-mandated incentives could undermine local planning processes and standards. Critics argue that while providing financial incentives is beneficial for housing development, the lack of reimbursement for local agencies could place additional financial burdens on them. Additionally, the bill's specific exemptions and requirements — such as compliance with prevailing wage laws and skilled labor mandates — could provoke debates over enforcement and economic impact on both developers and local economies.