Judge Blocks Sale
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Tenants in four apartment complexes are claiming victory in a fight for their homes. A judge has told the owner he cannot sell his property, even though there's a buyer already lined up.
Federal law says owners of low income property must give community organizations dealing with low income housing an opportunity to buy the property. The purpose is to keep rent affordable. The judge in the case of the four apartments decided the owner didn't make the appropriate notifications.
The apartments are in Rancho Cordova, Fair Oaks and Carmichael. If the sale had gone through, the new owner could have switched to a new subsidy program, then raised the rent beyond what the new program would cover. Tenants would be stuck trying to pay the difference out of their fixed monthly income.
It's now up to the property owner to make the proper notification to local nonprofit agencies. The tenants can only hope that one of the agencies will realize the need for affordable housing, buy the properties and keep the current subsidy programs in place.
(This story was provided by News10 KXTV Sacramento.)