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File #: 200948    Version: 1 Name: Administrative Code - Community Opportunity to Purchase Act
Type: Ordinance Status: Pending Committee Action
Introduced: 8/18/2020 In control: Land Use and Transportation Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: Ordinance amending the Administrative Code to require sellers of multifamily residential buildings to provide a new right of first offer and right of first refusal to qualified nonprofit organizations if a multifamily residential building is not under contract or remains unsold after one year and after each year thereafter; require sellers to provide additional disclosures to qualified nonprofit organizations; provide information to current tenants, and assist qualified nonprofits with due diligence; and allow multifamily residential buildings acquired by qualified nonprofit organizations under the Community Opportunity to Purchase Act to convert to a limited equity cooperative under Subdivision Code, Division 11.
Sponsors: Sandra Lee Fewer, Shamann Walton, Norman Yee, Rafael Mandelman , Gordon Mar
Attachments: 1. Leg Ver1, 2. Leg Dig Ver1, 3. Referral FYI 082520
Legislation Details
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