COPA panic: Brokers, owners sound alarm on City Council bill
Property owners and brokers fear a four-letter acronym that, until recently, seemed a long-shot item on progressive wishlists: COPA. If passed, the Community Opportunity to Purchase Act would give nonprofits approved by the city the first opportunity to buy buildings with three or more residential units. It was first introduced in 2021, and the City Council has held multiple hearings on the measure, most recently in June. Last week, however, the bill was on a list of measures set to age, meaning it would be eligible for a Council vote. It was ultimately pulled from that list and is being […]
Property owners and brokers fear a four-letter acronym that, until recently, seemed a long-shot item on progressive wishlists: COPA. If passed, the Community Opportunity to Purchase Act would give nonprofits approved by the city the first opportunity to buy buildings with three or more residential units. It was first introduced in 2021, and the City Council has held multiple hearings on the measure, most recently in June. Last week, however, the bill was on a list of measures set to age, meaning it would be eligible for a Council vote. It was ultimately pulled from that list and is being […]
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