Gov Hochul VETOES Right of First Refusal Legislation!
Governor vetoes legislation to require community owners seeking to sell their communities to first offer to sell the community to the residents of the community
We are pleased to report our successful lobbying effort to convince Governor Hochul to veto A. 6231 (Thiele) which would have required manufactured home community owners to give their residents a “right of first refusal” before being allowed to sell the community.
Under the proposed legislation, if a community owner reached a deal to sell his/her manufactured home community to a new owner, the community owner would have been required to put the sale on hold to notify the residents of the community of the planned sale, and the residents were then given a 140-day period to buy the community if they were able match the price.
The New York Housing Association strongly opposed this legislation and fought to obtain a veto, arguing that the requirement in the bill to delay a sale for at least 140 days would significantly impair the market for communities and also frustrate the sale of communities in need of upgrades. In addition, among other arguments, the Association pointed out that the right of first refusal would even have been given to communities where the current owner(s) sought to transfer the community to their children, or to other members of an existing ownership team.
The Association thanks Governor Hochul for vetoing the bill and for acknowledging in her veto message that manufactured home communities are vital sources of affordable home ownership. We look forward to working with the legislature and the Governor to enact sensible legislation that encourages and enhances manufactured home communities.
Read the Governor's veto memo here.