SB 1252 Summary

• Requires common interest development associations to record member delivery preferences for notices at least 30 days before distributing both the annual budget report and annual policy statement.

• Redefines "affordable housing project" under the Housing Accountability Act to require either 55 years of affordability restrictions for rental housing and 45 years for owner-occupied housing, or participation in an equity sharing agreement by first purchasers.

• Expands housing successor requirements to make displaced low- and moderate-income housing available to descendants of persons displaced by redevelopment projects if they meet income eligibility requirements.

• Clarifies that loan terms for the Joe Serna, Jr. Farmworker Housing Grant Program must be consistent with existing housing programs including the Multifamily Housing Program and CalHome Program.

• Changes Local Housing Trust Fund grant requirements to measure affordability targets by dwelling units or shelter beds assisted (at least 30% extremely low-income, no more than 20% moderate-income) rather than by total amount of funds spent.