Affordable housing loan and grant programs: adaptive reuse.

Existing law establishes various programs and funding sources administered by the Department of Housing and Community Development to enable the development of affordable housing, including, among others, the Building Homes and Jobs Act, the Multifamily Housing Program, and the Housing for a Healthy California Program. This bill would provide that any notice of funding availability issued by the department for an affordable multifamily housing loan program shall state that adaptive reuse of a property for affordable housing purposes is an eligible activity. The bill would define "adaptive reuse" for these purposes to mean the retrofitting and repurposing of an existing building to create new residential units, as specified.