A.
The provisions of this chapter shall be known as the "Residential Condominium Conversions" regulations of this title.
B.
The purposes of the residential condominium conversions regulations are as follows:
1.
To establish criteria for the conversion of existing multiple-family rental housing to a condominium;
2.
To promote the concept of home ownership and increase the amount of owner-occupied housing affordable by all economic segments of the community;
3.
To ensure that converted housing achieves a high degree of appearance, quality, and safety and is consistent with the goals of the city;
4.
To provide a reasonable balance of ownership and rental housing and a variety of choices of tenure, type, price and location of housing;
5.
To maintain a supply of rental housing for very-low, low and moderate income persons;
6.
To reduce the impact of conversion on residents in rental housing who may be required to relocate due to the conversion of apartments to condominiums by providing procedures for notification and adequate time and assistance for such relocation; and
7.
To assure that purchasers of converted housing have been properly informed as to the physical condition of the structure which is offered for purchase.
(Ord. 859 § C, 2008)