Community Opportunity to Purchase Act Stirs Controversy
Proposed COPA would give nonprofits first right to buy multiunit buildings to convert to permanent affordable housing, potentially delaying sales and raising costs.
City Council weighs new legislation on nonprofit home ownership that could end up delaying real estate closing | amNewYork
COPA grants nonprofits first refusal rights on multi-unit property sales but could delay closings, raise costs, complicate financing, and reduce buyer competition.
