California Code, Public Resources Code - PRC § 31414

(1) Purchase existing lower cost accommodations from willing sellers and operate those accommodations through leases or operating agreements with qualified regional or local park agencies, concessionaires, or nonprofit organizations.

(2) Purchase existing accommodations from willing sellers and resell them to willing buyers, including private entities.

(3) Provide loans, grants, or other financial assistance to private entities for purposes of acquiring or improving accommodations.

(c)(1) Any project or transaction undertaken pursuant to this section shall be subject to terms and conditions prescribed by the conservancy to ensure that the project or transaction advances the purposes of the program, is based upon the economic soundness of the project itself, and provides a reasonable expectation that all financial obligations of the project can be met by participating parties.

(2) Any sale of real property to a private entity pursuant to this section shall be subject to deed restrictions or other legally enforceable instruments that require the property to be used for the provision of lower cost coastal accommodations for at least 30 years following the date of sale.

(3) Any purchase of property by the conservancy pursuant to this chapter shall not be subject to the Property Acquisition Law (Part 11 (commencing with Section 15850) of Division 3 of Title 2 of the Government Code).