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Supporters and real estate industry clash over House bill to give tenants first right of refusal
Summary
Witnesses and business owners told the Joint Committee on Community Development and Small Business that House Bill 306 would protect small commercial tenants from sudden property sales, while the Greater Boston Real Estate Board warned the mandate would add costs, delays and discourage investment.
The Joint Committee on Community Development and Small Business heard competing testimony on House Bill 306 on March 12, which would grant commercial tenants a statutory first right of refusal when their building is sold.
Supporters said the change would give small, minority- and immigrant-owned storefronts time to raise capital and avoid displacement; opponents said the mandate would inject delay and uncertainty into commercial real estate transactions.
Alyssa Banelfu Ramos of the Black Economic Council of Massachusetts and Lena Redd, a…
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