Proposal would offer some public land first for housing

Localities would prepare and publish an inventory of land they find suitable for affordable and middle-income housing. Every locality would list covered land within its boundaries, including its address, legal description, parcel number, zoning, and physical description. The inventory covers property the locality owns outright and has found feasible for this housing. Localities must prepare and maintain the inventory; the text gives no start date.

A locality choosing to dispose of listed land would first offer it for affordable and middle-income housing. This applies when a locality's governing body chooses to dispose of land on its inventory. A public or private entity could buy, lease, exchange for, or receive the land as a donation. The conveyance must require homes for extremely low-, very low-, or low-income households for at least 30 years. The exclusive offer period must last at least 90 days, and the housing requirement must last at least 30 years.

The state could list certain surplus land exclusively for offers from eligible housing organizations for 90 days. This covers surplus state property and organizations certified by the Authority or qualifying through the stated housing tax credit history. The Virginia Housing Development Authority must find a housing project feasible and enough interest from eligible organizations within its review period. The land must not already have been disposed of through the local economic development process. The Governor must give prior written approval for a sale, lease, or transfer, including one below fair market value. A deal with an eligible organization must require affordable and middle-income housing for at least 30 years. The Authority has up to 180 days after notice to assess the land and seek interest. If it finds a feasible project and enough interest, the state lists the land exclusively to eligible organizations for 90 days.