Today's Law As Amended

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SB-481 Successor agencies: assets: disposal.(2017-2018)



SECTION 1.

 Section 34177.8 is added to the Health and Safety Code, to read:

34177.8.
 (a) Notwithstanding subdivision (e) of Section 34177, and subdivision (a) of Section 34181, the successor agency to the Redevelopment Agency of the County of Sacramento may dispose of assets previously used as the San Juan Hotel and Mobile Home Park for an amount less than fair market value provided that the agency require that the property be used for housing affordable to, and occupied by, persons and families of low or moderate income and very low income and extremely low income households and include an enforceable covenant to that effect that meets the requirements of subdivision (f) of Section 33334.3.
(b) For purposes of this section, “assets previously used as the San Juan Hotel and Mobile Home Park” means a property, consisting of 2.55 acres, formerly known as the San Juan Hotel and Mobile Home Park located at 5700 Stockton Boulevard in Sacramento County.
(c) For purposes of this section, “dispose of” means to transfer or sell the property described in subdivision (b) to the City of Sacramento or to the housing successor to the Redevelopment Agency of the City of Sacramento.
(d) This section shall remain in effect only until January 1, 2022, and as of that date is repealed.
SEC. 2.
 The Legislature finds and declares that the addition of Section 34177.8 to the Health and Safety Code by this act serves a public purpose of encouraging the construction of affordable housing in Sacramento County, and does not constitute a gift of public funds within the meaning of Section 6 of Article XVI of the California Constitution.
SEC. 3.
 The Legislature finds and declares that a special statute is necessary and that a general statute cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unique need of the Successor Agency to the Redevelopment Agency of the County of Sacramento to ensure that the assets of the former redevelopment agency are disposed of in a way that provides the maximum benefit to the community.