This chapter shall be known and may be cited as the “Tenant Opportunity to Purchase Block (606) District Pilot Program”, and shall be liberally construed and applied to promote its purposes and policies.
It is the purpose of this chapter and the policy of the City, in order to protect and promote the public health, safety, and welfare of its residents, to empower tenants to purchase multifamily rental properties, at market prices, within a reasonable period of time and to thereby minimize tenant displacement, stabilize households facing displacement pressures, and promote the preservation of affordable rental housing in neighborhoods at risk of gentrification.
(Added Coun. J. 9-18-24, p. 16736, § 3)