CA SB1355

Authorizes community college districts to allow rental fees for joint-use buildings if the constructed buildings are developed and operated as affordable housing for students or employees of the district.

Allows community college districts to enter into lease agreements with private persons, firms, or corporations for joint occupancy of real property and buildings specifically intended for affordable housing for students or employees.

Extends the maximum lease term from 5 years to 66 years for affordable housing projects on community college district property.

Permits community college districts to lease real property for less than fair rental value to entities that intend to develop and operate affordable housing for district students or employees, provided the lease is consistent with the California Constitution.