Sec. 13-5. - Condominium conversion; removal of rental units from the market; definitions; notice; eviction; purchase; benefits; assistance and punishment; condominium review board.
(a)
Preamble.
Whereas, a serious public emergency exists with respect to the housing of a substantial
number of citizens of New Bedford; and
Whereas, the deterioration and demolition of existing housing and an insufficient
supply of new rental housing have resulted in a substantial and critical shortage
of safe, decent, and reasonable priced rental housing accommodations; and
Whereas, the prolonged increases in housing costs at a rate substantially exceeding
increases in personal income, the increased costs of new housing construction and
the conversion of multiple unit rental housing accommodations occupied by tenants
to condominium units and cooperatives has resulted in a substantial and critical shortage
of safe, decent, and reasonably priced housing accommodations; and
Whereas, home ownership creates an interest in real estate which tends to contribute
to the maintenance and preservation of housing and to an increase in real estate taxes
which has a salutary effect on the city and its people, and the city council should,
therefore, encourage an increase in such ownership or at least should avoid discouraging
it; and
Whereas, at present in the city there is a great interest in and a significant amount
of conversions of multiple unit rental housing occupied by tenants to condominium
units or cooperatives occupied by individual owners thereof; and