Procedure for District to effectuate purchase.

The Mayor shall have not less than 150 days from the date of the owner’s receipt of the Mayor’s written statement of interest, issued pursuant to § 42-3404.32(b), to negotiate a contract for sale. For every day of delay in providing information by the owner as required by this chapter, the negotiation period shall be extended by one day. If a tenant organization is formed and delivers an application for registration to the Mayor pursuant to § 42-3404.11, the Mayor shall have 15 days, in addition to the time provided for in subsection (a) of this section, to negotiate a contract of sale. The Mayor shall have up to 60 days after the date of execution of a contract of sale to complete settlement. If the owner provides any extension of time to a tenant under this chapter, the Mayor shall automatically receive the same extension of time. The owner shall provide written notification to the Mayor of any extensions of time provided to the tenant.