10-1.701 Purpose.

The purpose of this Article is as follows:

1. To establish criteria for the conversion of the existing multiple family rental housing to condominiums, community apartments, stock cooperatives, and any other subdivision which is a conversion of existing rental housing.

2. To reduce the impact of such conversions on residents in rental housing who may be required to relocate due to the conversion of apartments to condominiums by providing for procedures for notification and adequate time and assistance for such relocation;

3. To assure that purchasers of converted housing have been properly informed as to the physical condition of the structure which is offered for purchase;

4. To ensure that converted housing achieves a high degree of appearance, quality, and safety and is consistent with the goals of the City;

5. To provide a reasonable balance of ownership and rental housing in Walnut Creek and a variety of choices of tenure, type, price and location of housing;

6. To maintain a supply of rental housing for low-and moderate income persons.