Burlington Code of Ordinances ch. 18 (Housing), Art. V (Regulation of Conversion of Rental Housing to Condominiums or Cooperatives) § 18-300

18-300 Statement of purpose.The intent and purpose of this article is as follows:

(1) To support the retention of rental housing in the city;

(2) To prevent large scale displacement of low-and moderate-income persons;

(3) To mitigate the impact on tenants displaced or threatened by displacement by the conversion of rental housing to condominiums or cooperatives;

(4) To mitigate the impact of such displacement on the city’s housing market;

(5) To provide opportunities for tenants and/or public entities to purchase rental housing in order to maintain perpetual affordability of that housing;

(6) To provide broad opportunities for persons to rent or own housing that will be perpetually affordable;

(7) To provide funds to replace low-and moderate-income housing lost through conversion of rental housing to condominiums and cooperatives;

(8) To promote the rehabilitation and construction of housing for low-and moderate-income persons;

(9) To follow recommendations of the Burlington Affordable Housing Task Force regarding the problems created by the conversion of rental housing to condominiums or cooperatives; and

(10) To expand on existing Vermont law related to conversions to address specific concerns of the city and its citizens and provide special benefits to existing tenants, especially elderly and disabled people.

(Ord. of 3-30-87)