Existing law prescribes requirements for the disposal of surplus land by a local agency, including sending a written notice of the availability of the property before disposal of that property or participating in negotiations to dispose of that property with a prospective transferee, as specified. Existing law specifies that certain disposals of land are not subject to these provisions, including, disposal of land by a city with a population exceeding 2,500,000 for certain purposes, as specified. Existing law authorizes a city, county, or city and county, with the approval of its legislative body by resolution after a public hearing, to acquire, sell, or lease property in furtherance of the creation of an economic opportunity, as defined.

This bill would exempt from the requirements for the disposal of surplus property the disposal of real property acquired by a local agency on or after, January 1, 2029, for the purpose of creating an economic opportunity, when the local agency adopts a specified resolution that includes plans for anticipated improvement and future use of the property and disposes of the property to a public or private entity consistent with the planned used identified in the resolution.