Limitations on the District’s opportunity to purchase.

The District’s opportunity to purchase shall be subordinate to the right of a tenant. To exercise its right under this subchapter, the Mayor shall provide a written statement of interest to the owner and tenant within 30 days of the Mayor’s receipt of the copy of offer of sale required by § 42-3404.03. The Mayor shall not exercise the opportunity to purchase provided by this subchapter unless at least 25% of the rental units in the housing accommodation are affordable units. For the purposes of this subsection, the term “affordable unit” means a rental unit in a housing accommodation for which the existing monthly rent, including utilities, paid by the tenant is equal to or less than 30% of the monthly income of a household with an income of 50% of the area median income, as set forth in the periodic calculation provided by the United States Department of Housing and Urban Development, adjusted for the household size.