AB 507: Adaptive reuse: streamlining: incentives.

The bill aims to streamline the process for adaptive reuse projects, allowing for faster approval and minimizing regulatory hurdles. An adaptive reuse project is deemed a use by right in all zones, subject to a ministerial review process if it meets specific requirements, such as preserving historic resources and meeting affordability criteria. The bill requires projects to include a certain percentage of affordable housing units, depending on the type of project, and prohibits projects in industrial zones that do not permit residential uses. Parking requirements are waived for projects subject to the streamlined process, and development proponents are required to certify compliance with labor standards, including prevailing wage and apprenticeship requirements. The bill also authorizes local governments to adopt ordinances governing adaptive reuse projects and exempts these projects fr…