What is a Tenant Opportunity to Purchase Act...
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What is a Tenant Opportunity to Purchase Act (TOPA)? TOPA is a policy that gives renters options to secure their housing when the property they live in goes on sale, and helps to permanently preserve affordable housing. Here’s how it works: Could TOPA be right for your town? Would you like to learn more? Visit ebclc.org/TOPA ONE: The owner of a rental property decides to sell. TWO: Tenants decide collectively: purchase the property together or offer the rights to an affordable housing developer. THREE: Either way, the city and supportive organizations help tenants find funding and provide technical assistance. FOUR: The property becomes permanently affordable for future generations. 3 2 1 4
Transcript of What is a Tenant Opportunity to Purchase Act...
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What is a Tenant Opportunity to Purchase Act (TOPA)?TOPA is a policy that gives renters options to secure their housing when the property they live in goes on sale, and helps to permanently preserve affordable housing. Here’s how it works:
Could TOPA be right for your town? Would you like to learn more? Visit ebclc.org/TOPA
ONE: The owner of a rental property decides to sell.
TWO: Tenants decide
collectively: purchase the property together or offer the rights to
an affordable housing developer.
THREE: Either way, the
city and supportive organizations help
tenants find funding and provide technical
assistance.
FOUR: The property
becomes permanently affordable for
future generations.
321 4