Public Meeting on the Salem Condominium Conversion Ordinance
October 31st at 11:11am.
The Salem City Council will be holding a public hearing on Thursday, November 3rd to discuss the proposed framework of their condominium conversion ordinance. If the associated home rule petition is approved, the condominium conversion ordinance would apply to all buildings with two or more residential units. The state condominium conversion ordinance applies to buildings with four or more units.
Under the proposed framework, a building owner seeking to convert a rental property into condominiums would have to go through the following process:
- Send a notice of intent to current and former tenants during the previous 12 months.
- Condominium Conversion Permit (CCP) Application must be filed within one month of the Notice of Intent.
- The tenant is offered the right to purchase the unit (if applicable).
- 1-year waiting period for vacant units, and a 2-year waiting period for occupied units. There is up to a 2-year extension if the tenant is unable to find housing in Salem.
- Final Conversion Application is submitted, and application is approved.
- Relocation payment of $5,000 per tenant, paid within 10 days of vacating the unit.
The home rule petition is currently in the House Steering, Policy, and Scheduling Committee and has been read for a second time. A bill needs to be read three times before it moves to the floor for a vote. The bill would then need to be read three times in the Senate, and then approved by a vote for the law to go into effect.
Updates will be posted on the NSR Blog.