The bill amends the Wyoming Urban Renewal Code to expand its application to include the provision of affordable housing. It introduces new findings that highlight the lack of affordable housing in municipalities, which is deemed detrimental to public health, safety, and welfare. The bill defines "affordable housing" as housing where the total gross household income of the occupant does not exceed 120% of the median gross household income for the county. Additionally, it modifies existing definitions related to "blighted areas" and "urban renewal projects" to incorporate the focus on affordable housing, ensuring that urban renewal efforts also address this critical need.

Key amendments include the requirement for municipalities to consider the provision of affordable housing in their urban renewal plans and to prioritize private enterprise in developing such housing. The bill also stipulates that urban renewal projects cannot be initiated unless the local governing body finds a lack of affordable housing or identifies slum or blighted areas. Furthermore, it allows municipalities to acquire property for affordable housing projects through eminent domain, with specific protections for residential properties. The act is set to take effect immediately upon passage, with certain provisions becoming effective on July 1, 2025.

Statutes affected:
Introduced: 15-9-102, 15-9-103, 15-9-104, 15-9-105, 15-9-106, 15-9-107, 15-9-110, 15-9-114, 15-9-115, 15-9-116, 15-9-120