SEC. 47.06. TENANT RELOCATION ASSISTANCE WHERE APARTMENTS ARE TO BE CONVERTED. (Title and Section Amended by Ord. No. 153,592, Eff. 5/11/80.) A . Statement of Purposes . At the present time, there is a critically short supply of rental housing in the City of Los Angeles. Many rental housing units have been removed from the rental market through conversion to condominiums, stock cooperatives, community apartment projects, hotels and commercial uses. Tenants who are evicted due to conversion are experiencing serious difficulties in locating comparable replacement rental housing. These difficulties are particularly acute for elderly tenants and those with physical limitations, particularly the handicapped and disabled. In addition, families with minor dependent children face greater relocation difficulties than families without such children. The City’s condominium conversion ordinance addresses these grave public health and welfare problems in the context of new conversions of existing rental units to various forms of divided ownership. However, that ordinance does not provide assistance to tenants displaced due to the conversion of their rental units to condominiums, stock cooperatives or community apartment projects exempted from the new conversion ordinance, or to hotels. Additionally, in some instances tenants displaced due to conversions already approved by the City (under the previous conversion ordinance) are not receiving relocation assistance, yet often face similar relocation difficulties. Since the conversion of rental units to condominiums, stock cooperatives, community apartment projects, hotels and commercial uses is a substantial cause of the rental housing shortage, the City Council finds and declares that it would be just and proper for the subdividers who may enjoy the benefits of such conversions to assist tenants who are displaced by the conversion activity and who otherwise would be forced to bear the burdens of displacement without any assistance. The Council also finds that the necessity for relocation assistance is significantly less for the tenants of luxury apartment units. B . Definitions .