CA AB1732

Authorizes the successor agency to the Redevelopment Agency of the City of Manteca to sell assets previously used as Qualex Incorporated (located at 555 Industrial Park Drive) to a nonprofit organization at less than fair market value if the property is used to provide resources to homeless and low-income individuals.

Requires the property to revert to the successor agency or City of Manteca if it ceases to be used for serving homeless and low-income populations.

Mandates that if the property reverts, it must be sold at fair market value with proceeds distributed to each affected taxing entity on a pro rata basis.

Declares that this statute serves the public purpose of encouraging resources for homeless and low-income individuals and does not constitute a gift of public funds under the California Constitution.

Finds that a special statute is necessary for the City of Manteca's successor agency due to the unique community needs and disposition of former redevelopment agency assets.