AB 2433: Housing development: density bonus.

This bill amends the density bonus law to make it easier for developers to build affordable housing. To qualify for a density bonus, a housing development must meet specific criteria, including a certain percentage of units for very low income, lower income, or senior citizen housing. The bill also expands the definition of moderate-income households to include lower income, very low income, and extremely low income households. The bill allows for a density bonus on sites within the same housing development, rather than just on contiguous sites. It also streamlines the process for processing density bonus applications, requiring local governments to provide a determination of eligibility within a certain timeframe. Additionally, the bill makes changes to the calculation of incentives and concessions, and specifies that the granting of a density bonus, incentive, or concession is not dis…