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<br />Mr. Lieuallen noted he also would like to look at the ordinance longer. <br />Mr. Obie stated he had just received the ordinance and would like to <br />know more about it prior to making any decision. He would like more <br />time to discuss it and to be able to do.a better job. He reiterated <br />his question to the task force as to whether there would be a negative <br />impact if they delayed. Ms. Schue stated she would like to see the <br />moratorium extended. <br /> <br />e <br /> <br />Stan Long noted that there are some limitations on the moratorium and <br />they are extending it from June 1 to June 23. If the council feels <br />that time needs to be extended a week or two longer, it probably could <br />be done at that time, provided there was good reason. Mr. Long noted <br />that their staff recommends passing the first ordinance today. <br /> <br />CB 2136--An ordinance relating to the conversion of apartment buildings <br />to condominiums; amending Ordinance No. 18535; and declaring <br />an emergency. <br /> <br />Ms. Smith moved, seconded by Mr. Lieuallen, that the bill be <br />read the second time by council bill number, with unanimous <br />consent of the council, and that enactment be considered at <br />this time. Roll call vote; motion carried unanimously. <br /> <br />Council Bill 2136 was read the second time by council bill number only. <br /> <br />Ms. Smith moved, seconded by Mr. Lieuallen, that the bill be <br />approved and given final passage. Roll call vote; all coun- <br />cilors present voting aye, the bill was declared passed and <br />numbered 18637. <br /> <br />e, <br /> <br />Mr. Henry introduced Tim Sercombe to provide background information on the <br />conversion ordinance. <br /> <br />Mr. Sercombe stated that he would be giving a brief overview of the ordi- <br />nance which regulates conversion of rental dwelling units to condominium <br />or cooperative ownership. Regulation occurs in three substantive areas: <br />protection of existing tenants; protection of special category tenants <br />(low-income, elderly, or handicapped tenants); and protection of pur- <br />chasers of converted units through mandatory disclosure of the condition <br />of the building, a warranty on the common elements, and the funding of <br />adequate reserves for future operating or replacement expenses. (He <br />noted this lasts three years by the developer.) <br /> <br />. <br /> <br />5/28/80--12 <br />