(a) (1) If a local agency, as of September 30, 2019, has entered into an exclusive negotiating agreement or legally binding agreement to dispose of property, the provisions of this article as it existed on December 31, 2019, shall apply, without regard to the changes made to this article by Chapter 664 of the Statutes of 2019, and all subsequent amendments to this article, to the disposition of the property to the party that had entered into such agreement or its successors or assigns, provided the disposition is completed by December 31, 2027.

(2) If a local agency, as of September 30, 2019, has entered into an exclusive negotiating agreement or legally binding agreement to dispose of property related to the Metro North Hollywood Joint Development Project, the provisions of this article as it existed on December 31, 2019, shall apply, without regard to the changes made to this article by Chapter 664 of the Statutes of 2019, and all subsequent amendments to this article, to the disposition of the property to the party that had entered into such agreement or its successors or assigns, provided the disposition is completed not later than December 31, 2027.

(3) If a local agency, as of September 30, 2019, has issued a competitive request for proposals for the development of property that includes at least 100 residential units and at least 25 percent of the total residential units are restricted to lower income households, as defined in § 50079.5 of the Health and Safety Code, with an affordable housing cost or an affordable rent, as defined in Sections 50052.5 and 50053 of the Health and Safety Code, for a minimum of 55 years for rental housing and 45 years for ownership housing, the provisions of this article as it existed on December 31, 2019, shall apply, without regard to the changes made to this article by Chapter 664 of the Statutes of 2019, and all subsequent amendments to this article, to the disposition of the property to the party that participated in the competitive request for proposals process, or the party’s successors or assigns, provided a disposition and development agreement for the property is entered into not later than December 31, 2027. A joint development involving multiple parcels shall meet the requirements of this paragraph so long as there was a single competitive request for proposals process and the joint development otherwise meets all the requirements listed in this paragraph. A “disposition and development agreement” means an agreement between the developer and the local agency that binds the developer to construct a specific development and the local agency to dispose of the property if permits and other entitlements for the project are obtained. This paragraph shall not apply to land held in the Community Redevelopment Property Trust Fund pursuant to § 34191.4 of the Health and Safety Code, or that has been designated in a long-range property management plan pursuant to § 34191.5 of the Health and Safety Code. If no disposition and development agreement is entered into before December 31, 2027, then future negotiations for and disposition of the property shall be subject to the provisions of this article.

(2) The dates specified in paragraphs (1) to (3), inclusive, by which the disposition of property must be completed shall be extended if the disposition of property, the local agency’s right or ability to dispose of the property, or a development project for which the property is proposed to be transferred, is the subject of judicial challenge, by petition for writ of mandate, complaint for declaratory relief or otherwise, to the date that is six months following the final conclusion of such litigation.

(b) (1) With respect to land held in the Community Redevelopment Property Trust Fund pursuant to § 34191.4 of the Health and Safety Code, or that has been designated in a long-range property management plan pursuant to § 34191.5 of the Health and Safety Code, either for sale or retained for future development, this article as it existed on December 31, 2019, without regard to the changes made to this article by Chapter 664 of the Statutes of 2019, and all subsequent amendments to this article, which take effect on January 1, 2020, shall apply to the disposition of that property if both of the following apply:

(A) An exclusive negotiating agreement or legally binding agreement for disposition was entered into not later than December 31, 2020.

(B) The disposition is completed not later than December 31, 2027.

(2) If land described in paragraph (1) is the subject of litigation, including, but not limited to, litigation challenging the disposition of such property, the right or ability to dispose of the property, or a development project for which such property is proposed to be transferred, the dates specified in paragraph (1) shall be extended to the date that is six months following the final conclusion of such litigation.

(c) Nothing in this section shall authorize or excuse any violation of the provisions of this article as it existed on December 31, 2019, in the disposition of any property to which such provisions apply pursuant to subdivision (a) or (b).

(d) If a local agency terminated an exclusive negotiating agreement or legally binding agreement to dispose of property pursuant to an earlier, superseded version of subdivision (a) or (b) of this section due to the lapse of a statutory deadline for completing the disposition of property the local agency may, in its sole reasonable discretion, elect whether to ask the party to the terminated exclusive negotiating agreement or legally binding agreement to dispose of property to consider reviving the terminated agreement. If the local agency and other party fully execute an instrument reviving the terminated agreement before January 1, 2024, on substantially the same terms and conditions as the terminated agreement, the revived agreement shall be subject to subdivision (a) or (b), as applicable, of this section.

(Amended by Stats. 2023, Ch. 788, Sec. 12. (AB 480) Effective January 1, 2024.)