The new and improved Community Opportunity to Purchase Act (COPA) is expected to pass the City Council by the end of the year, City Limits reports, giving organizations dedicated to preserving affordability the first opportunity to purchase a building when it goes up for sale.

“COPA gives qualified nonprofit organizations and community land trusts a real opportunity to take land and housing off the speculative market and bring them into permanently affordable community control,” Deyanira Del Rio, executive director of the New Economy Project, explained in a statement; but landlords and small-property owners are raising the alarm, saying that the bill adds a layer of confusion to an already confounding system.

https://www.realtor.com/advice/rent/nyc-community-opportunity-to-purchase-act/