California REALTORS® statement on Governor's approval of SB 330

LOS ANGELES, Oct. 9, 2019 /PRNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) today issued the following statement on the governor's signing of Sen. Nancy Skinner's (D-Berkeley) SB 330:

"The California Association of REALTORS® and the more than 200,000 real estate agents and brokers we represent thank Gov. Gavin Newsom for signing SB 330 — a major step in addressing California's housing shortage. We were proud to strongly support Sen. Skinner's bill because it recognizes the true severity and urgency of our state's housing crisis," C.A.R. President Jared Martin said.

"SB 330 will increase the housing supply by reducing the barriers to housing development. It labels our housing shortage exactly what it is: a housing supply crisis. This law will create certainty in the development application and permitting process to streamline building new housing units.

"C.A.R. applauds Sen. Skinner for her relentless focus on solving California's housing crisis. She is serious about increasing the housing supply and understands that the future of California is at stake if we fail to build more housing. We look forward to continuing to work with lawmakers and the governor next year to build on the momentum to increase the housing supply."

About SB 330:

• It creates certainty for developers constructing new housing units, by permitting no more than five public hearings to approve a proposed housing development if the development is consistent with local planning, zoning and design requirements.
• Upon granting housing development approval, local governments will be prohibited from increasing local permitting fees throughout the project's development, which will create more certainty in the entitlement process.
• Streamlines the local permitting process for five years in cities whose populations exceed 5,000 residents and where rents exceed 130 percent of the national average.
• It labels California's housing crisis a "housing supply crisis."

Leading the way... ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

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SOURCE CALIFORNIA ASSOCIATION OF REALTORS