California AB2329 regulates the sale of surplus residential properties by state agencies to ensure affordable housing in Pasadena and South Pasadena.

California AB2329 amends the Government Code to establish procedures for the sale of surplus residential properties by state agencies, prioritizing affordable housing in Pasadena and South Pasadena. The bill mandates that properties be offered first to former and present occupants, then to housing-related entities, and finally to other buyers. It requires appraisals and inspections, sets prices based on fair market value, and mandates the use of proceeds for affordable housing development.

California AB2329 regulates the sale of surplus residential properties by state agencies to ensure affordable housing in Pasadena and South Pasadena.

California AB2329 amends the Government Code to establish procedures for the sale of surplus residential properties by state agencies, prioritizing affordable housing in Pasadena and South Pasadena. The bill mandates that properties be offered first to former and present occupants, then to housing-related entities, and finally to other buyers. It requires appraisals and inspections, sets prices based on fair market value, and mandates the use of proceeds for affordable housing development.