CA AB576

Authorizes the California Department of Transportation to sell excess property adjacent to a maintenance facility to an adjoining residential development owner at fair market value if the property is not independently developable.

Requires fair market value to be determined by a mutually agreed-upon appraiser based on the property's highest and best use.

Mandates that 25 percent of new residential units constructed on the acquired property be very low income, low-income, or moderate-income rental units, or whatever percentage the city's inclusionary zoning ordinance requires.

Requires the purchaser to pay for reconstruction of any existing buildings on the acquired property at fair market value, with reconstruction costs deducted from the sale price.

Requires the California Transportation Commission to certify compliance with all conditions before finalizing the sale, with all transactions to be completed by January 1, 2020.