Sec. 379H.159. AFFORDABLE HOUSING POLICY. The board of a land bank may adopt a policy requiring that a percentage, as determined by the board based on local needs and available land bank inventory, of residential units constructed on residential real property conveyed by the land bank be deed restricted for housing that is affordable to households with an income of not greater than 80 percent of the area median family income, adjusted for household size, for the municipality, as determined annually by the United States Department of Housing and Urban Development.
Added by Acts 2021, 87th Leg., R.S., Ch. 780 (S.B. 1679), Sec. 1, eff. September 1, 2021.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle A - Municipal Planning and Development
Chapter 379H - Urban Land Bank Program in Municipality With Population of Two Million or More
Subchapter D. Acquisition and Disposition of Property
Section 379H.151. Tax Exempt Status of Land Bank Property
Section 379H.152. Title Held by Land Bank
Section 379H.153. Quiet Title Actions
Section 379H.154. Acquisition of Property Generally
Section 379H.155. Acquisition of Foreclosed or Seized Property
Section 379H.156. Redemption by Owner of Foreclosed Property
Section 379H.157. Disposition of Property Generally
Section 379H.158. Disposition of Property for Flood Control and Storm Water Drainage and Planning