Expands Wyoming's Urban Renewal Code to include affordable housing as a purpose for tax increment financing and urban renewal projects.
- Adds legislative finding that affordable housing shortages harm public health, safety, and municipal economic growth, establishing affordable housing as a state policy concern. (W.S. 15-9-102(d))
- Defines 'affordable housing' as housing where occupant's total gross household income does not exceed 120% of the county's median gross household income. (W.S. 15-9-103(a)(xx))
- Expands urban renewal project definition to include provision of affordable housing alongside elimination and prevention of slums and blight. (W.S. 15-9-103(a)(xix))
- Requires municipalities to afford maximum opportunity to private enterprise for affordable housing development or redevelopment of urban renewal areas. (W.S. 15-9-104(a))
- Allows municipalities to formulate workable programs using public and private resources to provide affordable housing or eliminate slums and blight. (W.S. 15-9-105(a)(i), W.S. 15-9-105(b)(i))
- Requires municipalities to adopt a resolution finding that a lack of affordable housing exists or that slum or blighted areas exist before exercising urban renewal authority. (W.S. 15-9-106(a)(i), W.S. 15-9-106(a)(ii))
- Requires municipal governing body to determine that an open land area has a shortage of affordable housing before acquiring property for residential development in an urban renewal project. (W.S. 15-9-110(b)(i)(A), W.S. 15-9-110(b)(i)(B), W.S. 15-9-110(b)(i)(C), W.S. 15-9-110(b)(i)(D))
- Authorizes municipalities to retain property with covenants and restrictions to assist in providing affordable housing and preventing future slums or blight. (W.S. 15-9-115(a)(iii))
- Requires municipalities to publish notice and invite proposals from private developers for affordable housing development or redevelopment before transferring property. (W.S. 15-9-116(a)(ii), W.S. 15-9-116(b))
