| 1 | 1 | | 81R9975 ACP-D |
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| 2 | 2 | | By: Davis of Dallas H.B. No. 3537 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the modification of deed restrictions imposed on |
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| 8 | 8 | | property under an urban land bank demonstration program in certain |
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| 9 | 9 | | municipalities. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 379C.010, Local Government Code, is |
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| 12 | 12 | | amended by adding Subsection (g) to read as follows: |
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| 13 | 13 | | (g) In addition to the modification or addition of deed |
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| 14 | 14 | | restrictions allowed by Subsection (f), and notwithstanding the |
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| 15 | 15 | | restrictions required by Subsections (b), (c), and (d), the land |
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| 16 | 16 | | bank or the governing body of the municipality may modify the deed |
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| 17 | 17 | | restrictions imposed under this section to allow a qualified |
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| 18 | 18 | | participating developer to develop the property without providing |
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| 19 | 19 | | affordable housing directly on that property. Property described |
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| 20 | 20 | | by this subsection must be adjacent to other property that is |
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| 21 | 21 | | obtained through a means other than the program under this chapter |
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| 22 | 22 | | and on which the developer proposes to provide affordable housing |
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| 23 | 23 | | subject to deed restrictions as described by Subsections (b), (c), |
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| 24 | 24 | | and (d). The improvements to property described by this subsection |
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| 25 | 25 | | must provide a substantial benefit to a housing development located |
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| 26 | 26 | | on the adjacent property, such as a sidewalk or other structure that |
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| 27 | 27 | | provides access to the development. |
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| 28 | 28 | | SECTION 2. This Act takes effect immediately if it receives |
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| 29 | 29 | | a vote of two-thirds of all the members elected to each house, as |
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| 30 | 30 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 31 | 31 | | Act does not receive the vote necessary for immediate effect, this |
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| 32 | 32 | | Act takes effect September 1, 2009. |
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