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About

East Palo Alto's Opportunity to Purchase Act (OPA) is a proposed ordinance that empowers tenants with options when the home they live in is going to be sold. Under an OPA ordinance, tenants would have the right of first offer to purchase or alternatively could choose to assign their rights to a qualified nonprofit (QNP) that could help them remain in their home.

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East Palo Alto is characterized by a strong spirit of self-determination and dedication to strategies that advance equity, justice, and opportunity. 

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The Proposed EPA OPA Process:

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​The EPA OPA exempts all residential properties owned by East Palo Alto residents, and only applies to properties owned by absentee owners.

 

  1. A non-exempt Owner decides to sell a qualifying residential property

  2. Owner notifies Potential Eligible Purchasers of their intent to sell.

  3. Potential Eligible Purchasers submit a Statement of Interest in purchasing or waive their right of first offer, enabling conventional marketing

  4. Potential Eligible Purchasers who submitted a Statement of Interest have time to submit an initial offer.

  5. Owner accepts or rejects initial offer(s).

    • If the offer is accepted, the parties proceed to closing.

    • If the offer is rejected, the owner may list and market the property conventionally to seek additional offers. The first additional offer is subject to the Right of First Refusal by the Potential Eligible Purchasers, who can end the up-bidding process by matching the highest offer made. If they do not match, or if the third party offer is 15% higher than the initial offer, the Right of First Refusal expires and the owner may proceed with selling to the third party.

  6. The parties sign paperwork and close.

 

The process above is based on the November 16, 2021 draft Ordinance in the staff report to City Council.

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