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Council adopts Community Opportunity to Purchase Act after heated debate over property rights
Summary
The City Council approved Intro 9-02-B (COPPA), a program giving vetted nonprofits a first opportunity to buy certain distressed residential buildings, following sharp debate about whether the measure protects tenants or unlawfully restricts private property rights. Vote: 30–10–8.
The New York City Council on Dec. 18 adopted Intro 9-02-B, known as the Community Opportunity to Purchase Act (COPPA), which gives qualified preservation buyers — chiefly vetted nonprofits — a first chance to buy certain residential properties in physical distress before those properties go to market.
Proponent Council Member Sandy Nurse urged passage, calling COPPA “a landmark piece of social housing legislation” that targets a narrow universe of buildings already in…
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