Expand Property Transfer Program for Distressed Buildings
In committee as of Jun 17, 2026Under review by an assigned committee.
✦ Plain-Language Summary
This bill changes the city's program that takes over neglected buildings and gives them to new owners for repairs. It expands which buildings qualify for the program and requires better notice to current owners and tenants. It also gives building owners more chances to fix problems and keep their properties.
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Details
- Introduced
- Feb 12, 2026
- Body
- Committee on Housing and Buildings
- Type
- Introduction
- Status
- Laid Over in Committee
Sponsors (37)
Official Description
This bill would make amendments to the Third Party Transfer (“TPT”) program. Through the TPT program, the City forecloses on financially and physically distressed properties and transfers them to a third party for rehabilitation. This bill would expand the definition of distressed properties, create additional notice requirements to property owners and building residents, and provide opportunities for building owners to avoid the transfer of their property in particular circumstances, among other changes to the program.