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(A) The intent and purpose of this section is to regulate the conversion of existing, occupied apartment housing into condominiums, townhouse condominiums, residential stock cooperatives, or community apartments.
(B) The city finds that such ownership patterns may have substantial effects and that regulation is necessary to implement the policies set forth in the housing element of the general plan to provide adequate housing opportunities for all economic segments of the community, to mitigate adverse impacts upon schools and other public facilities, to provide for reasonable notice to displaced tenants and to provide for adequate maintenance of private residential properties to insure safety and maximize the quality of the city's living environments.
(`64 Code, Sec. 34-220) (Ord. No. 1805)