Here is what our County Government Overlords (Übermensch) envision for you (p.12):
“right of first refusal for affordable housing organizations to purchase a property before it is offered to other parties, and establishing reasonable penalties to encourage compliance and help cover administration costs”
https://www.chathamnc.org/home/showpublisheddocument?id=32222
In the Progressive case (and our Übermensch are Uber-Progressive), that means you are FORCED to sell to the Übermensch at what THEY like as “fair market value”:
“Preempting private sales and requiring owners to sell the property at fair market value to a designated buyer; in this case the price is typically determined by independent appraisers”
https://www.localhousingsolutions.org/act/housing-policy-library/act-housing-policy-library-rights-of-first-refusal-overview/act-housing-policy-library-rights-to-first-refusal-overview-rights-to-first-refusal/
Coming County-wide??? Let’s HOPE so – may Chatham be a Progressive beacon. May we out-Portland Portland! ‘Cause if you ain’t Progressive, you’re Reactionary. Reactionaries are evil.
Progressive=Good
Reactionary=Evil
Got it?
Date: Tue, 8 Dec 2020 22:41:55 -0500
From: Douglas Sedlak
Subject: Attention Siler City Rental Owners : “Right of first refusal” for Affordable Housing