Los Angeles County rental housing owners have a chance next week to tell county officials how a proposed purchase-priority ordinance would work in practice — and what it would cost them when they sell.
The county’s Department of Consumer and Business Affairs is developing a Community Opportunity to Purchase Act ordinance for unincorporated areas of the county. COPA would give buyers the county designates as mission-driven — such as nonprofit housing providers and community land trusts — the first opportunity to buy certain rental housing when an owner decides to sell. The Board of Supervisors voted 5-0 in July to direct staff to draft the ordinance.
A technical policy design workshop for property owners and real estate professionals is set for Thursday, Sept. 10, from 10 a.m. to noon on Zoom. HR&A Advisors, a real estate and policy consulting firm hired by the county, will moderate the session and collect input on the sales process and timelines, notice requirements, and the resources owners and real estate professionals would need.
CAA told the board in July that COPA would not create any new housing and would add delays and uncertainty for owners, buyers, lenders and residents. The association intends to take part in the county’s stakeholder process so housing providers and property owners have a seat at the table.
CAA encourages members who own or sell rental housing in unincorporated Los Angeles County to attend and describe how the proposed process would affect their transactions. Owners can RSVP for the Sept. 10 workshop.
