The housing element must identify and analyze units that are at risk of converting from affordable to market-rate during the next 10 years. If units are found to be at-risk, the housing element must estimate the total cost of replacing and preserving these units and include a list of entities with the capacity to acquire multifamily developments at-risk. The analysis should guide policies and programs necessary to address the critical activity of preserving at-risk units.
Thousands of publicly assisted housing units in California are eligible to change from low-income to market-rate housing during the next decade due to the termination of various government subsidy programs and/or restrictions on rental rates. These units, known as “at-risk” units, are a valuable source of affordable housing for families statewide and, as a result, the housing element must include a detailed analysis and proactive policies and programs to preserve at-risk units.
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Government Code
Pursuant to Government Code Section 65583, subdivision (a), paragraph (9), this sub-section should include an analysis of existing assisted housing developments (as defined by the statute) that are eligible to change from low-income housing uses during the next 10 years due to termination of subsidy contracts, mortgage prepayment, or expiration of restrictions on use.