COPA returns, with tenant advocates crafting the bill
COPA’s return is imminent — and this time it is sure to pass. The Community Opportunity to Purchase Act would pause sales on thousands of apartment buildings to give nonprofits handpicked by the mayor a better chance to buy them. “We are in the process of finalizing the language,” said bill sponsor Council member Sandy Nurse at an affordable housing forum Wednesday. “We’re hoping to have something introduced very quickly, within the next 30 days.” The real estate industry strongly opposed a version of COPA passed by the Council last year, saying it would compromise owners’ ability to sell buildings. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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