Submitted by: At the Request of the City Administrator
Submitting Department: Community & Economic Development
Agenda Section: Presentation
Item Title:
title
Prince George's County Department of Housing and Community Development Right of First Refusal Program
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Suggested Action:
recommendation
Presentation Only
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Summary Background:
The Right of First Refusal (ROFR) Program was created in 2013 through Prince George's County Bill 27-2013 with the purpose of expanding the availability of affordable rental housing in the County. In 2015, the bill was expanded to apply to the entirety of the County through County Council's adoption of CR-51-2015.
The program is administered by the Department of Housing and Community Development (DHCD) and is detailed in Prince George's County Code 13-1110 et. seq. Through the ROFR Program, the County buys multifamily rental facilities as a means of revitalization and to preserve housing opportunities for low- to- moderate income households. It ensures affordable housing developers are given preference in acquiring properties within the County.
As part of this program, the property owner who seeks to sell a multifamily rental facility that consists of 20 or more dwelling rental units must provide written notice of the sale to the Director of DHCD. DHCD is authorized under the Code to exercise its ROFR rights and purchase the property (or assign its rights to purchase the property to a third-party). DHCD's current list of approved third-party developers can be found as an attachment to this memo.
Next Steps:
Currently, National Housing Trust (NHT) Communities is in negotiations with the owner of Hamilton Manor, 3342 Lancer Drive, Hyattsville. As part of the County's ROFR process, the local municipality must approve the purchase of the property through written support. Further information on the developer's request will be included in a presentation made to Council during the April 19 meeting.
Fiscal Impact:
N/A
City Ad...
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