Virginia HB143 prioritizes surplus real property for affordable and middle-income housing.
Virginia HB143 directs the Department of General Services to prioritize the disposition of surplus real property for affordable and middle-income housing. The bill mandates that the Department first offer surplus property to eligible organizations for a specified period. If not sold, the property can be disposed of through public auction, sealed bids, or marketing by licensed real estate brokers. The bill also allows for the sale or lease of surplus property to eligible organizations for less than fair market value, with the Governor's approval.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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