Any local agency disposing of surplus land to an entity described in Section 54222 that intends to use the land for park or recreation purposes, for open-space purposes, for school purposes, or for low- and moderate-income housing purposes may provide for a payment period of up to 20 years in any contract of sale or sale by trust deed for the land. The payment period for surplus land disposed of for housing for persons and families of low and moderate income may exceed 20 years, but the payment period shall not exceed the term that the land is required to be used for low- or moderate-income housing.

(Amended by Stats. 2023, Ch. 788, Sec. 7. (AB 480) Effective January 1, 2024.)

Terms Used In California Government Code 54225

  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Local agency: means every city, whether organized under general law or by charter, county, city and county, district, including school, sewer, water, utility, and local and regional park districts of any kind or class, joint powers authority, successor agency to a former redevelopment agency, housing authority, or other political subdivision of this state and any instrumentality thereof that is empowered to acquire and hold real property. See California Government Code 54221
  • Open-space purposes: means the use of land for public recreation, enjoyment of scenic beauty, or conservation or use of natural resources. See California Government Code 54221
  • Surplus land: includes land held in the Community Redevelopment Property Trust Fund pursuant to §. See California Government Code 54221
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