Replacement Units required pursuant to this article shall be made available through a right of first refusal to eligible individuals or households in the following order of priority:
1. to individuals or households who have been or will be displaced by the Conversion or Demolition of Residential Dwelling Units on the parcel or parcels, as described in Subsection 1. of Section 51.38 of this Code and who meet the qualifying income thresholds, with greater priority given to individuals most recently displaced by such Conversion or Demolition;
2. to individuals employed at the Hotel or Hotels developed through the Hotel Development Project who meet the qualifying income thresholds;
3. to others who qualify for the Replacement Units.