Entry-Level Home Ownership Act

 
Even before the COVID-19 crisis, homeownership in the state was at its lowest level since the 1940s, and opportunities for first-time homeownership are not available in most of our communities. Single-family homes are either no longer affordable in high-opportunity, job-rich areas or are only available far away from where people actually work. Declining availability and steep home prices, especially in high-cost markets, have shifted the make-up of first-time homebuyers towards less-diverse, higher-income households. Small lot homes, which cost less to build than either single family or large multi-family products, are a proven housing market recovery tool, adding jobs and homes that people want at a price they can afford.
 
AB 3155 accelerates housing production at a time when we need it most. This bill removes legal barriers that discourage the creation of new housing for first-time homeownership with naturally lower cost more affordable homes.
 
AB 3155 limits the expansion of SB 35 streamlining provisions to allow permitting for small developments of ten units or fewer, while meeting any existing local inclusionary requirement or, alternatively, pay a fee to local governments to contribute to affordable housing. This expansion of current law only applies in those jurisdictions that under current law require small projects to have on-site adorable housing of 50% which is not practical for builders or local agencies, and therefore not usable to create housing otherwise fully compliant with SB 35.
 
 
Click on the videos below to see the rollout of AB 3155 and my presentation before the Assembly Housing Committee.
 

 

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