(1) Notwithstanding any other provision of law, no person may convert nor shall the city permit the conversion of any rental housing unit in the city into a condominium or cooperative housing unit except as provided in sections 2.1060 to 2.1084 of this code. Any developer or other person seeking to convert an existing structure to condominium or cooperative ownership shall first apply for and obtain from the city a condominium conversion permit. A permit shall be issued by the city manager, or hearings officer upon appeal or review, after it has been determined that the existing structure and plans conform to all applicable provisions of law and this code. A permit may not be transferred or sold unless such transfer or sale is first approved by the city manager.
(2) No earlier than 30 days prior to the formal filing of an application for a permit, and concurrently with its delivery to the tenants, the developer shall deliver to the city a copy of a notice of planned conversion and an affidavit providing a list of tenants who received the notice and showing the date or dates of delivery or intended delivery of the notices to the tenants. The notice shall contain written information describing in general:
(a) What steps and actions the developer and others, including governmental agencies, will or must take in order for the building to be converted to a condominium or stock cooperative;
(b) How the tenant will be involved, informed, and assisted at each step in the process; and
(c) What rights the tenants have, whether mandated by law or voluntarily provided by the developer.
The notice shall be in plain and simple language, and contain any additional or specific information required by the city under administrative rules issued hereunder.
(3) After the notice of planned conversion is given and prior to renting any unit, any prospective tenant shall be notified by the developer or his or her agent, in writing, of the intent to convert and advised that no TAP benefits allowed under section 2.1070(f) of this code will be provided to that tenant.
(4) No developer or the developer’s agent shall sell any converted condominium units or cooperative shares until issuance of a permit by the city. This restriction shall not preclude the entering into of lease-purchase agreements between the developer and prospective purchasers after submission of an application for a permit.