Class 1 municipalities; authorization to establish community land trusts, affordable housing

Summary

The bill lets Class 1 municipalities create community land trusts that acquire, improve, and lease residential property on long‑term ground leases. Eligible families—those earning up to 80% or 120% of area median income—receive housing where costs stay affordable, and the trusts can receive property‑tax exemptions. The measure aims to expand affordable housing and preserve its value for future residents.

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