Governor Hobbs Greenlights Major Housing Legislation

Governor Katie Hobbs signed HB2297, a key bill supported by the Arizona Multihousing Association and lawmakers from both parties. The measure, sponsored by Republican Rep. Leo Biasiucci, will expedite the conversion of certain commercial buildings into residential spaces. The measure will allow for the creation of an estimated 150,000 new homes around the state.

Under HB2297, cities with populations exceeding 100,000 can repurpose up to 10% of commercial structures without undergoing discretionary municipal review, streamlining the process by eliminating the need for conditional use permits or rezoning applications. 

In addition, Governor Hobbs has unveiled the “Arizona is Home” mortgage assistance program, which is aimed at supporting first-time homebuyers. Developed in collaboration with housing assistance organizations Trellis and Chicanos Por La Causa, the program offers substantial down payment assistance. Eligible participants earning 80% or below the area median income can receive up to $30,000, while those with incomes ranging from 81% to 120% of the area median income are eligible for up to $20,000 in assistance. 

Source: https://azcapitoltimes.com/news/2024/04/12/hobbs-signs-housing-bill-more-in-the-works/