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Board hears bill that would give localities right of first refusal on expiring affordability restrictions
Summary
County attorneys described a local-option bill that would require owners of certain affordable properties to provide two years— notice and would give localities a right of first refusal to preserve affordability for 15 more years.
County attorneys briefed the committee on House Bill 19 73, a local-option bill that would allow jurisdictions to adopt ordinances requiring owners of properties with expiring affordability restrictions to notify the locality at least 24 months before expiration and to grant localities (or their designees) a right of first refusal to acquire and continue operating the property as affordable housing for an additional 15 years.
Ryan Wolf of the County Attorney's Office described the proposal and said it would include a $5,000 penalty for owners who fail to comply with…
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