Affordable housing; purchase of development rights.
Purchase of development rights for affordablehousing. Permits any local government to purchase development rights or accept the donation of development rights in an effortto preserve and provide affordable housing. The bill grants local governments the powers necessary to carry out the purchase of suchdevelopment rights. The bill prohibits the conversion or diversionof such affordable housing once the development rights are purchased unless the local government determines that such diversion is essentialto the development and growth of the locality and in accordance withthe locality's comprehensive plan.
Passed Feb 28, 2024
0 co-sponsors