CA SB225

Establishes the Community Anti-Displacement and Preservation Program (CAPP) to fund acquisition and rehabilitation of unrestricted housing units with long-term affordability restrictions while protecting current residents from displacement.

Requires the Department of Housing and Community Development to select a private sector nonprofit lender or consortium to manage the program for 5-year terms, with the manager making loans to eligible borrowers including nonprofits, community land trusts, limited-equity housing cooperatives, and local public entities.

Creates the Community Anti-Displacement and Preservation Fund in the State Treasury funded by legislative appropriations and loan repayments, with administrative costs capped at 5 percent and up to an additional 5 percent available for technical assistance.

Requires properties acquiring loans to maintain affordability for 55 years for rental housing (or longer if required by other financing) and 45 years for homeownership properties, with tenants residing at acquisition protected from eviction based on income eligibility.

Mandates the department develop technical assistance and capacity building for eligible borrowers covering property assessment, operations management, resident engagement, and various housing ownership models including community land trusts and housing cooperatives.