AB 2329: Surplus residential property: condition-adjusted fair market value: Cities of Pasadena and South Pasadena.

<blockquote> California's AB 2329 amends existing laws regarding surplus residential property disposal by state agencies. It requires initial offers on single-family properties to be based on condition-adjusted fair market value, which accounts for the property’s current condition and necessary repairs as of October 13, 2019. The bill also mandates that unsold properties are sold at this adjusted value to present or former tenants in good standing. Disputes over final sales prices must be resolved by the Office of Administrative Law. Additionally, the city of South Pasadena is authorized to offer surplus residential property directly to tenants regardless of their standing, with proceeds going into an affordable housing trust fund. </blockquote>