The proposed bill would update current statutes by removing existing limitations on the percentage of buildings that must allow for multifamily residential development or adaptive reuse, and instead require municipalities to permit such development on at least 10% of existing commercial, office, or mixed-use parcels. It would also eliminate the provision allowing municipalities to modify this percentage every ten years, replacing it with a requirement for municipalities to analyze their parcels every decade to determine the minimum percentage eligible for development.

Additionally, the bill would remove the height limitation of 5 stories for multifamily developments, while allowing municipalities to restrict height to 2 stories near single-family residential zones within 70 feet. It would also permit greater height in other areas of the multifamily development site and clarify that municipalities cannot withhold demolition permits for compliant developments. The amendments would take effect immediately and apply retroactively from December 31, 2024, aiming to enhance adaptive reuse opportunities and provide municipalities with greater flexibility in their zoning regulations.

Statutes affected:
Introduced Version: 9-462.10