Modified COPA nears passage despite real estate pushback
A controversial City Council housing bill that once sent the real estate industry into a panic is back in play: the Community Opportunity to Purchase Act. The proposal, better known as COPA, was dead for a time after former mayor Eric Adams vetoed the bill and the Council lacked the votes to override it. But Council member Sandy Nurse has introduced a new version of the legislation, which would give nonprofits or joint ventures certified by the city first dibs at buying certain distressed multifamily buildings when they go for sale. The latest iteration comes with new concessions, including tweaks […]
This article originally appeared on The Real Deal. Click here to read the full story.
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