(a) Notwithstanding any conflicting provision of Division 1 of this article, land on which a tax lien has been foreclosed in favor of the city or land that has been seized by the city may be sold to a nonprofit organization for the purpose of providing affordable housing in accordance with this division and Section 253.010 of the Texas Local Government Code, as amended. The land may be located anywhere within the corporate city limits, but must be currently zoned for residential use.
(b) Any nonprofit organization purchasing land under this division must develop the land for sale or lease of affordable housing units to low-income individuals and families within three years of obtaining a quitclaim deed from the city. The affordable housing may be single-family or multi-family units.
(c) Subject to approval by the governing bodies of all other affected taxing units, the city council may by resolution:
(1) approve changes to a nonprofit organization’s proposal to develop affordable housing on land purchased from the city under this division, with any material changes being subject to the public hearing requirements set forth in Section 2-26.7; and
(2) extend the three-year development period in which a nonprofit organization is required to construct affordable housing units on land purchased from the city under this division. (Ord. Nos. 23713; 24046; 25443)