The corporate authorities of the village desire to encourage homeownership and promote a wide range of housing options within the village. Conversions of apartment buildings to owner-occupied condominium buildings presents great opportunity to increase owner occupied multi-family housing opportunities for current and future village residents. While the village desires to facilitate conversion of rental apartment buildings to owner-occupied condominium buildings, the village wants to ensure that such conversions are done in a fair and equitable manner to protect existing apartment residents. The village also seeks to ensure that such conversions are done so in strict conformity with current village codes, including, without limitation, building, life safety, and zoning codes.
(Ord. 7-56, passed 8-15-07)