Eric Adams Vetoed COPA, The Terrible Bill That Justin Brannan Cosponsored
Last week, NYC Council voted in favor of a bill that Justin Brannan co-sponsored called C.O.P.A.
COPA stands for The Community Opportunity to Purchase Act.
This bill was going to gives “approved non profits” the first right of refusal to buy three family (or more )homes and empty lots.
A non profit organization in our area that has done this was previously associated with several politicians in Brooklyn.
If a property owner refuses the non profits offer, then they can offer the property to other sellers. Once a seller makes an offer, then the seller has to inform the nonprofit and the nonprofit can make another offer.
This whole process could delay a property sale for six months.
NYC Council members who represent some areas banned together to vote against C.O.P.A. because this will delay sales in their community. Source: https://shorturl.at/5QT4J
Richer property owners can avoid the whole process by being noncompliant and just have to pay a $30,000 fee. Isn’t that sweet of NYC councilmembers to build that in for the super rich developers to not have to deal with their legislation?
The government should not have the ability to tell a property owner who they can sell their property to. This has to be unconstitutional. If the bill returns in 2026. hopefully someone will challenge it in court.
This man breaks down the problems with this new law in the video below. Warning: NWS….Some foul language.
For now, Eric Adams saved NYC from Justin Brannan’s parting gift.
The new NYC Council Speaker, Julie Menin can chose to vote on this bill again and the new council could vote it in. The good news is Menin abstained from this vote, so there is a good chance it isn’t coming back under her watch!
Hugs,
marlene
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