SB23-001 Summary

• Establishes new functions for the public-private collaboration unit to facilitate public-private partnerships for affordable housing projects using state-owned real property.

• Authorizes the unit to accept gifts, grants, and donations; hold proceeds from real estate transactions; purchase, transfer, exchange, or lease state property; and use requests for information to solicit affordable housing projects.

• Directs state treasurer to transfer $15 million from general fund to unused state-owned real property fund on July 1, 2022, and $5 million from general fund plus $8 million from housing development grant fund on July 1, 2023.

• Requires public-private partnerships to provide affordable housing proportional to demonstrated community needs and comply with local affordable housing development laws.

• Appropriates $47,583 to department of law for 0.3 FTE to provide legal services supporting implementation of the act.