Surplus residential property: condition-adjusted fair market value: Cities of Pasadena and South Pasadena.

CA AB2329 is a bill that modifies laws regarding surplus residential properties in the City of South Pasadena. It aims to establish a condition-adjusted fair market value for these properties, which means the value will reflect their actual condition rather than just market trends. This change is intended to make it easier for the city to manage and sell surplus properties effectively.

Supporters of CA AB2329 argue that the bill will help ensure that surplus residential properties are valued fairly, taking into account their actual condition. This will allow the City of South Pasadena to better utilize these properties for community benefit and potentially increase affordable housing options.

Critics of CA AB2329 may contend that adjusting the valuation of surplus residential properties could lead to undervaluation, resulting in lost revenue for the city. They might also express concerns that this bill could complicate the sale process and discourage potential buyers, ultimately hindering property management efforts.

Source: LegiScan roll call vote data.