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Work group reviews ‘right of first refusal’ policies used by other states to preserve affordable housing
Summary
Commission staff summarized statutory models used by several states that give local governments or designees an exclusive opportunity to acquire properties when affordability restrictions expire or owners decide to sell. Maryland, Massachusetts and county programs in Maryland were highlighted as frequently used precedents.
Commission policy staff presented an overview of “right of first refusal” and “right of first offer” mechanisms that states and localities use to preserve or acquire affordable housing when owners sell or when affordability agreements terminate.
Why it matters: Local governments and nonprofits typically need more time and financing flexibility than market buyers to acquire at‑risk affordable housing. A right of first refusal or right of first offer can create an exclusive time window for public or designated buyers to match an owner’s terms or negotiate a purchase so affordability can be preserved.
What staff described:…
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