Amends TCA Title 13, Chapter 3.
Tennessee HB0396 amends Title 13, Chapter 3 of the Tennessee Code Annotated by requiring that multi-family facilities, buildings, and structures constructed under a voluntary attainable housing incentive program be deed-restricted to maintain their status as attainable housing for a minimum of 30 years, rather than in perpetuity. This change affects developers and property owners participating in the attainable housing program. The key provision shifts the duration of the deed restriction from an indefinite period to a fixed 30-year term.
Tennessee HB0396 amends Title 13, Chapter 3 of the Tennessee Code Annotated by requiring that multi-family facilities, buildings, and structures constructed under a voluntary attainable housing incentive program be deed-restricted to maintain their status as attainable housing for a minimum of 30 years, rather than in perpetuity. This change affects developers and property owners participating in the attainable housing program. The key provision shifts the duration of the deed restriction from an indefinite period to a fixed 30-year term.
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