HB 1397

Abstract

Manufactured Home Lot Rental Act; manufactured home park; notice of sale and relocation expenses. Requires a manufactured home park owner to provide notice to the Department of Housing and Community Development and each manufactured home park tenant 90 days prior to unconditionally accepting an offer to purchase a manufactured home park. The bill grants a right of first refusal for localities located in Planning District 8. The bill provides for $5,000 in relocation expenses for a manufactured home owner if a rental agreement is terminated due to the sale of the manufactured home park to a buyer that is going to redevelop the park and change its use. 

Manufactured Home Lot Rental Act; manufactured home park; notice of sale and relocation expenses. Requires a manufactured home park owner to provide notice to the Department of Housing and Community Development and each manufactured home park tenant 90 days prior to unconditionally accepting an offer to purchase a manufactured home park. The bill permits an entity of tenants to negotiate for purchase of the manufactured home park. The bill also requires the manufactured home park owner provide notice to the locality in which the manufactured home park is located if the locality delivers a proposed purchase agreement with substantially similar terms and conditions as the entity of tenants to the manufactured home park owner. The bill provides an additional 60-day period for an entity to obtain financing for the purchase of a manufactured home park. The bill requires that its provisions be liberally construed to preserve affordable housing and expand the opportunities for owners of manufactured homes to purchase a manufactured home park. The bill provides for $5,000 in relocation expenses for a manufactured home owner if a rental agreement is terminated due to the sale of the manufactured home park to a buyer that is going to redevelop the park and change its use. The provisions of the bill do not become effective unless reenacted by the 2025 Session of the General Assembly. 

Manufactured Home Lot Rental Act; manufacturedhome park; notice of sale and relocation expenses. Requires amanufactured home park owner to provide notice to the Departmentof Housing and Community Development and each manufactured home parktenant 90 days prior to unconditionally accepting an offer to purchasea manufactured home park. The bill permits an entity of tenants,as described in the bill, to negotiate for purchase of the manufacturedhome park and provides for an appraisal if the parties dispute thefair market value of such manufactured home park. The bill providesan additional 90-day period for an entity to obtain financing forthe purchase of a manufactured home park. The bill requires thatits provisions be liberally construed to preserve affordable housingand expand the opportunities for owners of manufactured homes topurchase a manufactured home park. Finally, the bill provides for$5,000 in relocation expenses for a manufactured home owner if arental agreement is terminated due to the sale of the manufacturedhome park to a buyer that is going to redevelop the park and changeits use.