AZ HB2264

Municipalities must prepare an inventory by July 1, 2025 and every three years thereafter of all municipal real property suitable for affordable housing, including address, legal description, and vacancy status.

Counties must prepare a similar inventory of county-owned real property suitable for affordable housing on the same timeline, with public hearings and board adoption of the inventory list required.

State agencies must create inventories of surplus real estate by July 1, 2025 and every three years thereafter and provide them to the department for sale, with proceeds deposited in the housing trust fund.

Properties identified as appropriate for affordable housing may be sold with affordability restrictions, donated to nonprofit housing organizations, or made available for affordable housing production and preservation.

Monies from state surplus real estate sales must be deposited in the housing trust fund established under section 41-3955 for developing housing projects and programs for low and moderate income households.