e cooperative members are not protected by rent control,
what does this actually mean...?
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www.jstor.org www.jstor.org
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See Coal, for Nonprofit Hous. & Econ. Dev., A Study of Limited Equity Cooperatives in the District of Columbia (2004), available at www.knowledgeplex.org/showdoc.html?id=29404
possible source?
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Federal subsidy programs used in tenant purchase transactions includethe LIHTC program; Section 8 housing assistance payment contracts; theHOME program; and, even in some instances, public housing operatingsubsidies. The District also has two important local subsidy programs. TheLocal Rent Supplement Program (LRSP) provides rental assistance muchlike the federal Section 8 program.52 The Housing Production Trust Fund,
look into federal and local subsidy programs used in tenant purchase transactions in mass and 2MSX!
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The tenants' knowledge of the social problems at the site allowedthem to develop effective social services and security progr
additional effect of TOPA when housing stays rental because of joint venture
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If continued rental housing is the desired outcome, the tenant association rarely acquires the property itself. More often, it either assigns its rightsto, or enters into a joint venture with, the third-party purchaser or anotherdeveloper
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Or perhaps it would have simply remained conventionally financed rentcontrolled housing with rents that would meet the test of affordability.
this is also super interesting.... are there cased in which TOPA is actually detrimental? like when it would have been better if the building just remained rent controlled and affordable in that sense
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TOPA rights apply regardless of the income levelsof the tenants or the rents that they pa
super interesting... any possible effects of this? good or bad? any cases of wealthier people taking advantage of this law? or specific effects on the middle class that doesnt fall into the low-income category
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n general, we mean housing that is ata minimum affordable to people of low income, typically defined as up to80 percent of area median income (AMI). In the tenant purchase context,another possible standard is housing that is affordable to residents livingat the property at the time that the offer of sale is made. As we will see,those residents may have incomes significantly below 80 percent of AMIand may therefore be displaced by a project that is affordable to householdsat that income level.
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In utilizing the bargaining power conferred byTOPA, tenant associations use a variety of approaches to secure some combination of housing-related benefits. The benefits generally fall into one offive categories: continued rental housing with rent protections; cooperative homeownership with beneficial membership prices, carrying charges,or both; condominium homeownership with beneficial purchase prices;cash payments; and/or renovations to the property
is this referring to the other benefits that come with the tenant associations that TOPA mandates? interesting
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A second tenant protection found in the Rental Housing Act of 1985 iseviction control.
look into other mass or 2nd Middlesex specific tenant protections
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The manner in which tenants exercise their rights under TOPA is influenced by other provisions of the act that regulate condominium and cooperative conversions and provide relocation assistance for tenants displacedby such conversions, as well as other District laws relating to rent controland eviction contro
possibly related to Jehlen's other policies like rent control and transfer fees! and other state policies....
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TOPA also providesthe association with a right of first refusal, giving the tenant association afifteen-day period to match a third-party contract.2
how does this work if the tenants are already given the first right to purchase? is this like if they deny to purchase and then a third party comes in, the tenants have another opportunity to match that?
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Once the tenant association has registered, it has the exclusiveright to exercise TOPA rights.24
see Stanton v. Gerstenfeld case regarding who has the legal authority to represent tenants during the sale of a multi-unit building. excluded individual tentants! everything has to be done within the tenant association... possible issues with this? again the collective bargaining stuff....
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