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Planning Commission backs proposal to give nonprofits first opportunity to buy small multifamily buildings
Summary
The commission voted to recommend Supervisor Sandra Fewer's Community Opportunity to Purchase Act (COPPA) to the full Board of Supervisors, with a request staff pursue incentives such as transfer-tax adjustments; the measure would give qualified nonprofits a first-offer and right-of-refusal to preserve rent-controlled units.
The Planning Commission on Feb. 14 voted to recommend approval of the Community Opportunity to Purchase Act (COPPA), a proposed administrative-code change that would give qualified nonprofit affordable-housing developers a right of first offer and a right of first refusal on certain multifamily properties.
Ian Frigozzi of Supervisor Sandra Fewer's office introduced the legislation, saying COPPA is intended "to stabilize diverse communities in San Francisco by preventing displacement and preserving affordable housing." He described the two-step right (first-offer, then first-refusal) and said properties acquired under the…
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