CA AB11

Creates the California Housing Authority as an independent state body to develop, own, and maintain mixed-income social housing, with the goal of eliminating gaps between housing production and regional housing needs assessment (RHNA) targets

Establishes a 9-member governing board including housing experts appointed by the Governor (subject to Senate confirmation), legislative appointees, and 3 resident representatives who will be elected annually by social housing residents once units are occupied

Requires two leasing models: a rental model with 1-year leases where residents pay no more than 30% of income on housing, and an ownership model with 99-year limited equity leases requiring 15% down payment and minimum 5-year residency

Prioritizes development on vacant parcels, underutilized properties, surplus public lands, and parcels near transit; displaced residents receive relocation cost coverage and priority for occupancy in new developments

Creates the Social Housing Revolving Loan Fund in the State Treasury to provide zero-interest loans for mixed-income housing construction, with legislative intent to issue general obligation bonds for additional financing