UPDATE: This legislation failed passage in the Senate on 6-30-22.
AB 1850 was introduced on 2-8-22 by Assembly Member Ward.
This bill would prohibit a city, county, or other agency from acquiring unrestricted housing, unless each unit in the development meets specific criteria. Initial rents for the first 12 months must be at least 10% less than the average monthly rent charged for the unit over a 12 month period prior to the purchase, and at least 20% less than the fair market rent.
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