§ 11½-51. Existing tenant's option to purchase when unit converted from rental status.

(a)

Developer's obligation. A developer who is creating a condominium by converting existing rental units shall be obliged to reserve to an existing tenant that person's particular apartment, for purchase by that tenant, at any discount price offered by the developer, for a period of not less than sixty (60) days prior to the expiration of that tenant's legal tenancy.

(b)

Effective date; application. This section shall take effect as of May 7, 1980, and shall apply to all rental units being sold as condominiums which have not yet been contracted for sale.

(c)

Sixty days' notice required. In no event may a tenant, after notification by the landlord of any reservation or discount, be denied less than sixty (60) days from the date of said notice within which to purchase his or her particular apartment at the discount price so offered.

(Ord. No. 80-121, §§ 1—3, 6-30-80)

Editor's note

Ordinance No. 80-121, enacted June 30, 1980, did not specifically amend this Code; however, at the request of the city, §§ 1—3 of said ordinance are included herein, designation of said provisions as § 11½-51 is at the editor's discretion.