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Introduction of Intro 1063: The Housing Recovery and Resident Protection Act
0:05:48
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47 sec
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Council Member Sanchez introduces Intro 1063, also known as the Housing Recovery and Resident Protection Act, which aims to overhaul the problematic 3rd party transfer program.
- The new legislation uses the city's power of municipal foreclosure to target the worst buildings while protecting and expanding homeownership opportunities
- It addresses issues with the previous program, such as the problematic 'block pickup' provision
- The council member emphasizes that the new program aims to target only the most distressed properties