TCV Legislative Update
SB915/HB964 by Sen. Nicely and Rep. Todd would have created vesting periods of five years in which certain regional and municipal development standards would remain in effect from the date an application for building permit or approval of preliminary plat is submitted to the end of the vesting period or the last phase of development was amended in House Finance Committee. The Same amendment was also adopted in Senate State and Local. The amended bill establishes a vested property right for a development plan or building permit which would require locally adopted development standards in effect on the date of the approval of the development plan or building permit to remain the development standards applicable throughout the vesting period. Vesting periods for building permits begin at the date of issuance and shall remain in effect for the time period authorized by the issuing local government; development plans have an initial vesting period of three years. If the development occurs in phases, there shall be a separate vesting period applicable to each phase. A vested property right shall attach to and run with the applicable property and shall confer upon the applicant the right to undertake and complete the development and use the property under the terms and conditions of a development plan. This bill is expected to pass.
This bill has been called a compromise, but it seems to us like an unwarranted interference with local planning decisions and community input.