Legislative Update - Community Opportunity to Purchase Act
The Community Opportunity to Purchase Act (“COPA”), introduced by San Francisco Supervisor Sandra Lee Fewer, was unanimously co-sponsored and approved during an April meeting of the Board of Supervisors. The the act will amend the San Francisco Administrative Code to give certain qualified non-profit organizations both a right of first offer and a separate right of first refusal to purchase either multi-family rental properties (three units or more), or vacant lots zoned for three units or more. Any time a property meeting the above qualifications is advertised for sale, the COPA will require the owner to notify the qualified non-profits of their intent to sell. Any units purchased by a qualified non-profit under the proposed legislation will be subject to certain future affordability requirements.Click here for more information.
