Partnership for the Bay's Future (PBF) is supporting a state-wide network of housing justice organizations that have been developing tenant and community opportunity to purchase policies. PBF released the OPA Campaign Playbook and posted the following article.
"What is COPA? (Community Opportunity to Purchase Act)
COPA is an anti-displacement policy that would keep lower income families in their homes when a property owner moves to sell the property.
"It would level the property acquisition playing field between traditional real estate players, such as investors who can purchase properties in cash, and non-profit affordable housing groups.
"In contrast to traditional for-profit buyers, these non-profits – including affordable housing developers, community land trusts and limited equity cooperatives – would be required to keep the units permanently affordable.
"If adopted in San Jose, COPA would stabilize neighborhoods that are undergoing displacement, add units to the permanently affordable housing stock, and could provide non-traditional homeownership options for lower-income families who would otherwise be completely priced out of homeownership in the area. COPA also has the potential to serve as a tool for empowering residents to substantively participate in the property acquisition process by encouraging mission-driven buyers to consult with them before moving forward with the purchase."
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