LA County supervisors vote to give affordable housing groups edge on multifamily sales

Los Angeles County is moving to boost affordable housing groups in the apartment sales process.  On Tuesday, the Los Angeles County Board of Supervisors voted unanimously to begin drafting the Community Opportunity to Purchase Act, which would require owners of certain apartment buildings in unincorporated areas to notify qualified affordable housing organizations when they decide to sell, LAist reported. The proposal, if approved after a final vote, is intended to give nonprofits, community land trusts and affordable housing developers a chance to compete for properties that might otherwise be acquired by institutional landlords. Supervisor Hilda Solis, who introduced the measure, […]

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