Mamdani co-signs comeback of nonprofit property COPA bill vetoed by Adams | amNewYork

"The Community Opportunity to Purchase Act would keep housing in the hands of the community and curb landlords selling to big property groups, say advocates and bill sponsor Council Member Sandy Nurse. It does so, Nurse said, by giving qualified groups like community land trusts the right of first refusal on distressed residential buildings with four or more units. The nonprofits have 25 days to submit a statement of interest, then 80 days to make an official offer on the property."

"Since the city began considering COPA five years ago, it's faced sharp criticism from the real estate industry and Republican council members who say it would open the city up to legal challenges. Critics argue the bill violates private property rights, a landlord's right to freedom of contract and the Constitution's takings clause. Nurse said she'd been told by the city's Law Department her legislation was legally defensible before the council passed it with a 31-10 vote in December."

The Community Opportunity to Purchase Act would give nonprofits right of first refusal on distressed residential buildings with four or more units, providing 25 days to submit a statement of interest and 80 days to make an offer. The bill aims to keep housing under community control and limit sales to large property groups. The legislation passed the council 31-10 in December but was vetoed by former Mayor Eric Adams. The city's Law Department initially deemed the bill legally defensible but later raised legal concerns. The sponsor anticipates lawsuits and is working with the Law Department to craft stronger language under the incoming Mamdani administration.

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