Texas Local Government Code 379H.159 – Affordable Housing Policy
Current as of: 2024 | Check for updates
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Terms Used In Texas Local Government Code 379H.159
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The board of a land bank may adopt a policy requiring that a percentage, as determined by the board based on local needs and available land bank inventory, of residential units constructed on residential real property conveyed by the land bank be deed restricted for housing that is affordable to households with an income of not greater than 80 percent of the area median family income, adjusted for household size, for the municipality, as determined annually by the United States Department of Housing and Urban Development.