CA AB2372

Authorizes cities and counties to grant a floor area ratio (FAR) bonus to eligible housing developers as an alternative to traditional density bonuses based on dwelling units per acre.

Defines eligible housing developments as multifamily projects with 5+ units located in transit priority areas or within one-half mile of major transit stops, zoned for residential or mixed-use at minimum 20 dwelling units per acre, and including at least 20 percent affordable units for persons earning 50 percent or less of area median income for 55+ years.

Caps parking requirements at 0.1 spaces per affordable unit (for households earning up to 120 percent of area median income) and 0.5 spaces per market-rate unit for eligible housing developments.

Requires cities and counties adopting FAR bonus ordinances to allow impact fees to be calculated by square footage instead of per-unit basis for eligible residential developments.

Permits developers to request additional incentives or concessions under existing density bonus law and clarifies that this section does not supersede other provisions or prevent jurisdictions from offering more favorable FAR bonus terms.