§ 10-1. Legislative findings.

(a) Rental housing shortage.

The Mayor and City Council of Baltimore hereby finds and declares that a rental housing shortage presently exists in 2 areas of Baltimore City of emergency proportions which has been caused, in large part, by the conversion of rental housing to condominiums. In addition, at the present time the number of conversions to condominium regimes is accelerating at a rapid rate.

(b) Conversions exacerbating shortage.

These increasing numbers of conversions exacerbate an already severe shortage of moderate rental housing in the City while the poor economic conditions in the building trades have almost halted the construction of new rental units. As a result, the Mayor and City Council finds that the combination of the conversion of existing rental units and the lack of construction of new rental units has resulted in an extreme scarcity of rental housing in the City and insufficient numbers of rental units available to low and moderate income tenants.

(c) Hardships on displaced tenants.

The Mayor and City Council further finds that conversions of rental units has resulted in the displacement of tenants and caused these tenants severe financial and emotional stress in their need to relocate. Studies have shown that elderly and handicapped tenants suffer serious emotional and physical disturbances when they are advised that their buildings are being converted into condominiums.

(d) Protections required.

Accordingly, the Mayor and City Council finds that it is in the interests of the public health, safety and general welfare that the following provisions be added to the existing laws.