The legislation would give pre-qualified nonprofits an early shot at bidding on certain distressed apartment buildings, what supporters say would ensure those units stay affordable.
“The version of COPA now before the Council is a practical, well-crafted framework that will meaningfully strengthen New York City’s ability to preserve stable, affordable housing.”
“To create real opportunities, we need two parties entering negotiations with the same goal in mind—the sale of the building to a non-profit or a direct sale to tenants.”
