HB 1758

Abstract

Surplus real property; prioritization of disposition for affordable housing. Requires the Department of General Services to determine whether, following an offer of surplus property to the chief administrative officer of the locality within which the surplus property is located, as well as to any economic development entity for such locality, such surplus property is suitable for the development of affordable housing, as defined by the bill. If the Department so determines, the bill provides that such property shall be offered for at least 90 days exclusively to eligible organizations, as defined by the bill, for the purpose of developing affordable housing, provided that the terms of the disposition include a recorded covenant to provide affordable housing for at least 30 years.The bill also requires the governing body of each locality to prepare an inventory list of all real property within its jurisdiction to which the locality or any dependent special district within its boundaries holds fee simple title that is suitable for the development of affordable housing. If the governing body of a locality chooses to dispose of such a property, such property shall be offered for at least 90 days exclusively to eligible organizations, as defined by the bill, for the purpose of developing affordable housing, through purchase, lease, exchange, or donation in return for a recorded covenant to provide affordable housing for at least 30 years.

A BILL to amend and reenact § 2.2-1156 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 15.2-1800.5, relating to surplus real property; prioritization of disposition for affordable housing.