Surplus residential property: condition-adjusted fair market value: Cities of Pasadena and South Pasadena.

Summary

The bill changes how California agencies price surplus single‑family homes in Pasadena and South Pasadena. Offers to current tenants, former tenants and other eligible buyers must use a condition‑adjusted fair market value based on an appraisal that reflects needed repairs. Proceeds from city‑facilitated sales are directed to an affordable‑housing trust fund.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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