HB878 - Affordable housing; purchase of development rights.

3 Co-Sponsors

Purchase of development rights for affordable housing. Permits any local government to purchase development rights or accept the donation of development rights in an effort to preserve and provide affordable housing. The bill grants local governments the powers necessary to carry out the purchase of such development rights. The bill prohibits the conversion or diversion of such affordable housing once the development rights are purchased unless the local government determines that such diversion is essential to the development and growth of the locality and in accordance with the locality's comprehensive plan.