In response to concerns that foreclosed properties in some senior communities may be converted to affordable housing without age restrictions, Senator Robert Singer (R-30) has introduced legislation that would maintain the age-restricted status of housing sold in foreclosure and bankruptcy sales.
Under current law, the purchaser of a home in an age-restricted community, prior to resale or transfer of the unit, must certify that the dwelling will be occupied by a person of an age that ensures compliance with the “housing for older persons” exemption of the Fair Housing Amendments Act of 1988.
“There is concern that properties in senior communities that are sold in special foreclosure or tax sales could have age restrictions removed and be converted to affordable housing,” said Singer. “Property taxes would likely be driven higher to build new schools where none were previously needed, and an already limited supply of affordable senior housing would be reduced even further. My legislation will help preserve the affordability of senior communities.”
Singer’s legislation, S-2812, clarifies that the “resale” of an age-restricted unit shall include a tax or mortgage foreclosure sale, execution sale or bankruptcy sale.
“Senior communities are not designed for general family living, and they may not have easy access to the schools and other facilities that families need,” said Singer. “Age-restricted communities provide an affordable stock of housing that has been specifically developed to meet the unique needs of seniors.”
Singer noted that the goals of maintaining age-restricted communities and providing affordable housing are not mutually exclusive.
“My legislation would not prevent housing in senior communities from being designated as affordable housing, so long as the occupants continue to satisfy existing age restrictions.” added Singer. “Our goal is to keep all housing in age-restricted communities affordable for our seniors, whether it’s designated ‘affordable housing’ or not.”
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August 26, 2009
