Last week, C.A.R. supported legislation that will help increase housing supply in a reasonable way and consumer protection for homeowners being heard in the respective houses Appropriations’ Committees.
SB 6 is one of C.A.R.’s highest priorities. While a modest bill in the scheme of California’s overall housing needs, it will enact some commonsense measures to help the development of needed housing. SB 476 and AB 874 continues C.A.R. support of legislation to improve PACE consumer protections.
SB 6 (Caballero) Conversion of Commercial Property into Housing
SB 6 seeks to enact the Neighborhood Homes Act, which mandates that a local government ministerially approve housing developments of at least 20 units per acre on specified lots zoned for office, retail, or commercial use. These proposed housing developments would continue to be subject to all local ordinances including local zoning, parking, and design ordinances, as well as any design review or other public notice, comment, hearing, or procedure applicable to a housing development. Furthermore, it only applies to commercial properties which are currently underutilized as defined in the legislation.
This bill passed out of the Senate Housing Committee on April 29 and will be heard in the Senate Appropriations Committee on May 10.
SB 476 (Min) PACE Program Administrators and AB 874 (Quirk-Silva) PACE Risk Mitigation Program
Finally! SB 476 requires that an energy audit is performed on a property before the execution of a PACE financing contract. This will help ensure that a homeowner does not commit to an improvement before understanding if it will be of any benefit. It also provides that an inspection must be done to ensure that all work has been performed properly before payment is disbursed to the licensed home improvement contractor.
This bill will be heard in the Senate Appropriations Committee on May 10.
AB 874 will require the California Alternative Energy and Advanced Transportation Finance Authority to develop and administer a PACE risk mitigation program to address residential PACE-related mortgage and tax delinquencies to help avoid default or foreclosure by awarding a grant, in an amount equal to at least one annual PACE assessment to an eligible property owner.