CA SB56

Amends Public Contract Code Section 10513 to exempt the transfer of Rochdale Apartments (2424 Haste Street, Berkeley, Assessor Parcel Number 55-1881-17-1) from competitive bidding and publication procedures.

Allows the Regents of the University of California to transfer the property directly to the Berkeley Student Cooperative for affordable housing purposes without standard public sale procedures.

Requires the Regents to reserve a right of reverter that would allow UC to reclaim the property if it ceases to be used for affordable housing by the Berkeley Student Cooperative and its successors or assigns.

The reserved right of reverter may be subordinated at the Regents' discretion and remains subject to existing liens and obligations on the property.

Includes legislative finding that a special statute is necessary due to the unique need to maintain affordable housing provided by the Berkeley Student Cooperative.