(a) Before an owner of a federally-assisted housing accommodation may sell the housing accommodation, the owner shall provide to the Mayor, and the Mayor shall have, an opportunity to purchase the housing accommodation in the same manner, and with the same rights, as the opportunity to purchase is provided to tenants and tenant organizations under §§ 42-3404.02 through 42-3404.04 and 42-3404.08. The Mayor shall have 30 days after receiving a written offer of sale from the owner to provide the owner with a written statement of interest. The owner shall afford the Mayor a reasonable period of time, but not less than 120 days after receiving the statement of interest, to negotiate a contract of sale. The Mayor and the owner shall bargain in good faith.
(b) The Mayor may assign the opportunity to purchase provided under subsection (a) of this section to a person that:
(1) Demonstrates the capacity to manage the housing and related facilities for its remaining useful life, either by itself or through a management agent; and
(2) Agrees to obligate itself and any successors in interest to maintain the affordability of the assisted housing development as required by subsection (e) of this section.
(c) The Mayor shall not exercise the opportunity to purchase provided by this section unless the sale of the housing accommodation by the owner would result in the discontinuance of the use of the housing accommodation as a federally-assisted housing accommodation or in the termination of any low-income residency requirements that apply to the housing accommodation.
(d) The income restrictions imposed by the federal assistance program on the dwelling units in the housing accommodation purchased by the Mayor or an assignee of the Mayor shall be maintained by the purchaser for a 30-year period from the date that the purchaser takes possession of the housing accommodation.
(e) This section shall not abrogate the rights of tenants under subchapter IV of Chapter 34 of this title.
(Apr. 19, 2002, D.C. Law 14-114, § 204, 49 DCR 1468.)