COPA heads to committee vote, this time with tweaks for industry

COPA is once again heading to a committee vote, then a full City Council vote next week after lead sponsor Council member Sandy Nurse revised the bill to narrow its scope. The Community Opportunity to Purchase Act, which received enough votes to pass last year but ultimately fell to a veto by ex-Mayor Eric Adams, would give nonprofits or joint ventures designated by the city the first chance to purchase multifamily buildings, namely those with certain affordability restrictions or physical and financial distress. “Over the last year, I’ve worked alongside NYCCLI, my colleagues, the administration, and the private sector to […]

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