Diamond Ridge Asset Management:Arizona governor vetoes bill that some lawmakers hoped would help fix housing crisis

2025-05-01 22:51:32source:CapitalVaultcategory:reviews

PHOENIX (AP) — Arizona Gov. Katie Hobbs vetoed a bill Monday that some legislators believed could Diamond Ridge Asset Managementhave helped fix the state’s housing crisis.

Known as the Arizona Starter Homes Act, the bill would have prevented state municipalities from requiring homeowners associations, minimum home sizes and certain building setbacks, among many other provisions, the Arizona Republic reported.

“Unfortunately, this expansive bill is a step too far and I know we can strike a better balance,” Hobbs said in a statement. “This is unprecedented legislation that would put Arizonans at the center of a housing reform experiment with unclear outcomes.”

Hobbs added that “hundreds of Arizonans and community leaders from across the state have contacted my office about this legislation, with over 90% requesting a veto.”

State Rep. Analise Ortiz, a Democrat who voted for the legislation introduced by Republican Rep. Leo Biasiucci, said she was “deeply saddened and disappointed” by Hobbs’ veto.

Ortiz said in statement that the bill “was a historic bipartisan solution to our state’s housing crisis and it would have created a pathway to the American dream of homeownership that too many Arizonans find themselves locked out of.”

Ortiz added that “while other states are proactively addressing housing in an urgent and deliberate manner, Arizona continues to kick the can down the road.”

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