The purpose of this chapter is:
(A) To establish criteria for the conversion of the existing multiple-family rental housing to condominiums, community apartments, stock cooperatives, planned unit developments and any other subdivision which is a conversion of existing rental housing, generally referred to in this text as condominiums;
(B) To reduce the impact of the conversions on residents in rental housing who may be required to relocate due to the conversion of apartments to condominiums by providing for procedures for notification and adequate time and assistance for the relocation;
(C) To ensure that purchasers of converted housing have been properly informed as to the physical conditions of the structure which is offered for purchase;
(D) To ensure that converted housing achieves a high degree of appearance, quality and safety and is consistent with the goals of the city, as expressed in the housing element of the general plan; and
(E) To provide a reasonable balance of ownership and rental housing in the city and a variety of choices of tenure, type, price and location of housing.
(`61 Code, § 10.1) (Ord. 709, passed 1-18-1983)