California Health and Safety Code

§ 52535

HSC § 52535Div. 31 · Part 6.2 · Ch. 1

Statute text

The Legislature finds and declares as follows:

(a)A significant amount of housing built to serve lower income households and very low income households and families is starting to disappear from the housing market. This phenomenon is due to government policies that allow prepayment of mortgages or nonrenewal of subsidy contracts after short periods of time and to changes in market forces which increase property values and create pressure to convert to middle or upper income housing or office or commercial use. In many neighborhoods, these conversions displace low-income and very low income tenants who have very limited options for relocating in comparable housing.

(b)Replacing this resource will be so expensive as to make it a practical impossibility. Scarce public resources make it extremely difficult to finance acquisition of the existing low- and very low income housing that could prevent some of this loss.

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Legislative history

Added by Stats. 1987, Ch. 1355, Sec. 1.