This bill amends the Wyoming Urban Renewal Code to expand its application to include the provision of affordable housing. It introduces new findings and definitions, emphasizing the lack of affordable housing in municipalities and its negative impact on public health, safety, and welfare. The bill defines "affordable housing" as housing where occupants pay no more than 30% of their gross income for housing costs, and it modifies the definition of "blighted area" to include specific conditions that contribute to urban decay. Additionally, it mandates that municipalities prioritize the development of affordable housing through private enterprise and outlines the necessary steps for local governing bodies to adopt urban renewal projects aimed at addressing these housing needs.

The bill also includes various amendments to existing sections of the Urban Renewal Code, such as requiring municipalities to determine the presence of affordable housing shortages before initiating urban renewal projects. It allows for the retention of property for public use to assist in providing affordable housing and mandates that municipalities consider proposals for affordable housing development. Furthermore, it stipulates that taxes levied on properties within urban renewal projects will be allocated in a manner that supports the objectives of the urban renewal plan. The act is set to take effect immediately upon completion of legislative processes, with specific provisions becoming effective on July 1, 2025.

Statutes affected:
25LSO-0025 v0.6: 15-9-102, 15-9-103, 15-9-104, 15-9-105, 15-9-106, 15-9-107, 15-9-110, 15-9-115, 15-9-116, 15-9-120