The Empty Lots to Housing Act allows recipients of federal highway funding to transfer unused land to local governments, nonprofits, or private developers to build affordable housing near public transit instead of selling it back to the government. The bill requires that any housing built on transferred land must reserve at least 40 percent of units for low-income families earning no more than 60 percent of the area median income, with rent capped at 30 percent of their income, and at least half of those units must go to families earning 30 percent or less of area median income. These affordability requirements must remain in effect for 30 years from the date of transfer. The bill applies to real property acquired with assistance under federal transportation law and requires the Secretary of Transportation to approve all transfers while ensuring the overall public benefit exceeds the government's financial interest in selling the property.
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