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Rowlett adopts ordinance to vet extraterritorial housing finance corporations; $3,000 application fee approved
Summary
City Council passed an ordinance requiring housing finance corporations (HFCs) from outside Rowlett to seek city approval before acquiring real property for residential development within the city; the council also adopted a $3,000 application fee to cover review costs.
On June 17 the Rowlett City Council adopted an ordinance establishing a procedure to review requests from housing finance corporations (HFCs) based outside the city that seek to own real property in Rowlett for residential development. The measure, passed unanimously, is intended to align the city’s local process with recent state legislation and to give Rowlett oversight of potential HFC‑led acquisitions.
Council members discussed the need to…
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