Notice of Intent to Sell
San Diego Municipal Code § 98.1005
in effect§98.1005 Notice of Intent to Sell
(a) At least three months prior to any offering to sell an assisted housing development, the owner shall deliver a Notice of Intent to Sell to all qualified entities on the most recently published list of qualified entities maintained by the California Department of Housing and Community Development. Offering to sell includes listing a property with a real estate agent. The San Diego Housing Commission shall provide a hyperlink to the most recently published list of qualified entities on its website.
(b) Concurrent with delivery under San Diego Municipal Code section 98.1005(a), the owner shall post a copy of the Notice of Intent to Sell in a conspicuous place in the common area of the assisted housing development to provide notice to its tenants. The San Diego Housing Commission shall post a copy of the Notice of Intent to Sell on its website.
(c) A Notice of Intent to Sell shall contain the following:
(1) the address of the assisted housing development;
(2) the name and contact information of the owner;
(3) a statement that the owner intends to sell the assisted housing development or a portion thereof;
(4) the intended date of offering to sell;
(5) a statement that specifically identifies all regulatory agreements or other instruments recorded against the property that limits the rent that may be charged for any of the dwelling units within the assisted housing development;
(6) a statement that qualified entities shall have an opportunity to purchase the assisted housing development and have a right of first refusal, as established in this Division; and
(7) a statement that qualified entities may request, in writing, all of the following information regarding the assisted housing development: itemized lists of monthly operating expenses; capital improvements made within the two preceding calendar years; the amount of project reserves; copies of the two most recent financial and physical inspection reports, if any, filed with federal, state, or local agencies; the most recent rent roll for the property that lists the rent paid for each unit and subsidy, if any, paid by a governmental agency as of the date of the Notice of Intent to Sell; the vacancy rate at the property for each of the two preceding calendar years; and the terms of assumable financing and subsidy contracts, if any. The owner shall provide the requested information within 15 days of receiving a qualified entity’s written request.
(d) Any qualified entity may deliver a Letter of Interest to Acquire Assisted Housing Development to the owner within 30 days of delivery of the Notice of Intent to Sell.
(e) If the owner does not receive a Letter of Interest to Acquire Assisted Housing Development within 30 days of delivering a Notice of Intent to Sell, the owner may proceed with the intended sale of the assisted housing development to a third-party and has no further obligations under this Division.
(“Notice of Intent to Sell” added 2-27-2025 by O–21917 N.S.; effective 3-29-2025.)
Source: City of San Diego Office of the City Clerk, San Diego Municipal Code and City Charter (docs.sandiego.gov PDFs)URL: https://docs.sandiego.gov/municode/MuniCodeChapter09/Ch09Art08Division10.pdf#page=3Fetched: 10/28/2026