Housing
Workforce Housing Enhanced Infrastructure Financing Act
Lets cities and counties create special financing districts to build deed-restricted workforce housing.
The law creates a local tool to finance housing for public-safety, education, health care, and manufacturing workers. It requires most units to serve lower-income households and preserves affordability for decades.
What the law does
- Authorizes cities and counties to establish workforce housing enhanced infrastructure financing districts and adopt required financing plans.
- Limits district-financed projects to single-family, multifamily, or predominantly residential mixed-use housing.
- Requires projects to reserve units for specified workforce groups, while allowing lower- or moderate-income members of the public to occupy units under applicable law.
- Requires recorded deed restrictions reserving at least 70 percent of units for lower-income households and 30 percent for moderate-income households.
- Requires affordability covenants or restrictions for at least 55 years for rental units and 45 years for owner-occupied units.
- Allows tax-increment bonds only after approval by two-thirds of district voters, and bars a substantially similar defeated bond measure for one year.
Who it affects
- Public-safety personnel, school employees and teachers, health care personnel, and manufacturing workers seeking housing.
- Lower-income and moderate-income households eligible for the housing.
- Cities, counties, district governing boards, and voters residing in a district.
Context
Districts must review compliance with their financing plans every 10 years.