(A) Prior to conversion of the first condominium unit to a condominium status, the developer shall give each of the tenants in possession of units subject to this chapter notice of intent to convert no less than two hundred ten (210) days prior to requiring the tenants to vacate.
(B) The notice of intent must set forth the rights of tenants under this chapter and must include this section as an attachment. Such notice shall be hand delivered or sent by certified mail.
(C) No tenant may be required by the developer to vacate upon less than two hundred ten (210) days' notice, except by reason of nonpayment of rent, conduct that disturbs other tenants' peaceful enjoyment of the premises, or other substantial violations of the terms of the rental agreement. The terms of tenancy may not be altered during that period.
(D) During the one hundred twenty (120) day period following the delivery to tenants of the notice of intent, the developer shall offer the tenant his unit. This offer shall be held open until tenant's acceptance or refusal, but in no event longer than the expiration of the one hundred twenty (120) day period. Inaction by the tenant after the expiration of the one hundred twenty (120) days shall constitute a waiver of his right of first purchase. Said offer shall be either a first time offer to the tenant at a set price, or the right of first refusal to that tenant when a bona fide offer has been submitted for that unit by a third party. Under either procedure, the tenant shall have thirty (30) days to execute his own contract for the unit from the date of receipt of the offer or right of first refusal. If a tenant fails to execute a contract during that period, the developer may not offer to sell that unit during the following one hundred eighty (180) days at a price or on terms more favorable to the prospective purchaser than the price or terms offered to the tenant without first making same offer to the tenant, who shall have at least fifteen (15) days within which to accept the offer. This provision does not apply to any unit in a conversion condominium if the boundaries of the converted unit do not substantially conform to the dimensions of the unit before conversion; however, where it is available, another unit similar to the preconversion dwelling must be offered to the affected tenant. (Ord. 2532, 8-15-2005)