The purpose of this chapter is to:
A.
Establish criteria for the conversion of existing multiple-family rental housing to condominiums;
B.
Promote the concept of home ownership and bring a greater amount of owner-occupied housing on the market affordable by all economic segments of the community;
C.
Ensure that converted housing achieves a high degree of appearance, quality, and safety and is consistent with the goals of the city;
D.
Provide a reasonable balance of ownership and rental housing and a variety of choices of tenure, type, price and location of housing;
E.
Maintain a supply of rental housing for low-income and moderate-income persons;
F.
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;
G.
Assure that purchasers of converted housing have been properly informed as to the physical condition of the structure which is offered for purchase.
(Ord. 962 § 2 (Exh. A), 1989; Ord. 09-1315 § 3 (Exh. A), 2009)