COPA Forms Update
Created by: Emily Harrold
Modified on: Fri, 30 Jul, 2021 at 7:32 AM
The COPA* forms have been updated to reflect changes in the law. They are now available only in the members-only section of the SFAR website. They can be accessed by clicking on this link
. Note: If you are not already logged in to the members-only section of the SFAR website, you will see an error and be prompted to log in first. To do this, please click on the "LOGIN" button in the top right corner of your screen and enter your member details.
The updated forms should be available at ZipForms soon. SFAR promptly will notify membership when they are posted.
A summary of the updates is set forth below.
The updates address amendments to the COPA ordinance by the SF Board of Supervisors late last year that were not brought to the Association’s attention by the Mayor’s Office of Housing (MOH). The amendments mainly require:
- The initial notice to qualified non-profit organizations or QNPs expire before exhibiting a property subject to COPA to a private buyer or allowing inspection;
- Additional information regarding a property where a QNP indicates an interest in making an offer;
- A new Tenant “Information Sheet” (which the MOH is required to prepare, but as of this date it has failed to do so resulting in SFAR preparing a temporary alternative form);
- Delivery of disclosures to QNPs which made a first offer that was rejected (or did not have the opportunity to do so) along with information on the commission deal for buyer’s brokers;
- Where a seller does not sell within a year after the first notice to QNPs, a requirement for a new notice to be sent (and QNP rights of first offer thereafter reinstated); and,
- If a seller elects to withdraw a property from the market after the first notice, a requirement Seller provide all QNPs a notice of that election.
(*The Community Opportunity to Purchase Act (COPA) is a local law that gives qualified non-profit organizations the right of first offer, and/or the right of first refusal to purchase certain properties of-fered for sale in the City. Generally, the following properties are subject to COPA (see COPA for more Information):
- Buildings with 3 or more residential units
- Vacant land that could be developed into 3 or more residential units.)
SUMMARY OF COPA UPDATED FORMS
The following COPA forms have been updated to conform to the amendments noted above:
- Advisory for Sellers & Buyers: Reference new requirements per above.
- List of QNPs and COPA Procedures and Time Lines (COPA 1): Same.
- Required Rental Information (COPA 3): Add new required information, including the number of bedrooms in each rental unit, each tenant’s move-in date, the base rent for each rental unit, building costs passed through to each tenant, if any, whether there is a written lease or rental agreement and the annual expenses for the Property.
- Intent To Sell Notification (COPA 4): Add “OR RE-NOTICE” to title. Note requirement property not be exhibited to private buyers until after time for QNPs to respond to initial notice expires. Add provision for an annual Re-Notice per new requirement.
- Notice to QNP of Conditional Sale (COPA 7): Reference new disclosure and buyer-side commission deal requirements noted above in summary of updates.
- New Form: City COPA Information Sheet to Tenants (New COPA 10): Provides information on COPA, and identifies QNPs that expressed interest in subject property.
- New Form: COPA Notice of Election to Withdraw Property for Sale (New COPA 11): Self-explanatory per form title; provided per new requirements.
Except as summarized above, the COPA forms remain substantively the same.
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