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2008 SESSION
HB 879 Affordable dwelling unit ordinances; may establish requirement that prices for resale be controlled.
Introduced by: G. Manoli Loupassi | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Affordable dwelling unit ordinances. Provides that a locality establishing an affordable housing dwelling unit program in any ordinance may establish a requirement that the prices for resales and rerentals be controlled by the local housing authority or local governing body or designee for a period of not less than 15 years, but not to exceed 50 years, after the initial sale or rental transaction for each affordable dwelling unit, provided that the ordinance further provides for reasonable rules and regulations to implement a price control provision. Under current law, the prices for resales and rerentals may be controlled by the local housing authority or local governing body or designee for a period of 50 years after the initial sale or rental transaction for each affordable dwelling unit. HB 330 (McClellan) is incorporated into this bill.
SUMMARY AS INTRODUCED:
Affordable dwelling unit ordinances. Provides that a locality establishing an affordable housing dwelling unit program in any ordinance may establish a requirement that the prices for resales and rerentals be controlled by the local housing authority or local governing body or designee for a period of not less than 15 years after the initial sale or rental transaction for each affordable dwelling unit, provided that the ordinance further provides for reasonable rules and regulations to implement a price control provision. Under current law, the prices for resales and rerentals may be controlled by the local housing authority or local governing body or designee for a period of 50 years after the initial sale or rental transaction for each affordable dwelling unit.