CA AB2909

Expands the definition of "qualified historical property" under the Mills Act starting January 1, 2026 through January 1, 2036 to include properties in Los Angeles constructed at least 30 years prior to contract execution that meet specific zoning and historic significance criteria.

Requires contracts for the new category of qualified historical properties to mandate adaptive reuse with at least 80 percent of mixed-use developments dedicated to residential uses and at least one community amenity in the remaining 20 percent.

Mandates that adaptive reuse projects dedicate at least three units as live-work artist lofts and facilitate active transportation through measures such as bike storage, bike parking, pedestrian shade, or other city-identified improvements.

Requires properties converting hotels, motels, short-term rentals, or other habitation structures to also comply with affordability criteria specified in Section 65912.122.

Mandates property owners submit a fiscal analysis to the City of Los Angeles demonstrating the contract will provide a net positive economic benefit to local government before the city may issue the contract.