CA AB2560

Each qualified jurisdiction must develop and execute a plan by January 1, 2024 to collaborate with social equity investors (banks, charitable foundations, infill developers) to increase financing opportunities for affordable homes on blighted properties for families earning up to 120 percent of area median income.

Qualified jurisdictions must compile two lists by January 1, 2024: one identifying properties where State Housing Law violations, nuisance abatement liens, or tax delinquency notices occurred in the prior three years, and another listing properties the jurisdiction considers blighted.

Blighted property is defined as unoccupied or unsecured buildings, abandoned construction projects, deteriorated structures, or properties with broken windows, dilapidated walls, graffiti, or conditions that attract trespassers or harbor criminal activity.

Qualified jurisdictions include 15 Bay Area jurisdictions: Alameda County (Ashland, Cherryland unincorporated areas), Contra Costa County (Bay Point, Crockett, Montalvin Manor, North Richmond, Rodeo), and the cities of Alameda, Emeryville, Fremont, Hayward, Newark, Oakland, San Leandro, Union City, Antioch, Oakley, Pittsburg, Richmond, and Vallejo.

The chapter expires January 1, 2028, and the bill imposes a state-mandated local program; reimbursement for costs shall be made pursuant to existing statutory provisions if the Commission on State Mandates determines costs are mandated by the state.