During a work session on Feb. 25, the Eugene City Council passed a motion to ask the city manager to bring back more information on the Tenant Opportunity to Purchase Act for the council to discuss as a rental protection.
TOPA requires property owners to give notices to building residents if they plan to sell the property, and allows residents to form a coalition and purchase the building before third parties. The goal of TOPA is to keep prices stabilized and residents in their homes.
The city’s Rental Housing Program presented a slideshow to the council discussing the impacts of Phases I and II of the Renters Protection Process, and mentioned TOPA as a possible protection in the future…