2019 San Francisco Ordinance 79-19 Granting Non-profit Organizations First Right of Purchase to Preserve Affordable Housing

This ordinance grants certain nonprofit organizations the right to make first offers on multi-family residential buildings, provided that the property is used to create or preserve rent-restricted affordable housing. This ordinance aims to incentivize sellers by reducing general transaction costs, exempting these transactions from increased transfer tax rates, and facilitating the seller's realization of tax benefits at the federal level. It also outlines the process by which qualified nonprofits will be selected.