COPA passes City Council, ending six-year legislative battle

COPA has once again been approved by City Council, this time with mayoral support. The bill cleared a City Council vote Thursday, marking a key milestone in the long trajectory of the legislation that gives nonprofits and certain city-designated joint ventures a first chance to purchase distressed buildings that are up for sale.  Thirty-eight lawmakers voted in favor of the revived version of the bill that faced vocal industry pushback since its inception, with two abstaining and nine voting against. “Today we are going to end the six-year saga of the Community Opportunity to Purchase Act here in the Council,” […]

This article originally appeared on The Real Deal. Click here to read the full story.