Lexington, Mass., Code of Bylaws ch 63 § 63-3

A. Applicability of Chapter 527 of the Acts of 1983. Owners shall be required to comply with the provisions of Section 4 of Chapter 527 of the Acts of 1983 and the provisions of this by-law, which shall be construed to be supplementary to the provisions of Chapter 527 of the Acts of 1983. Any protection or benefits for tenants created by this by-law or conditions imposed by the Board for the protection and benefit of tenants shall be in addition to, and not instead of, any benefits or protection provided by any statute of the Commonwealth or by any decision of any court. B. Conversion license required. No housing accommodation in the Town shall be converted to a condominium or cooperative unless the owner shall have first secured a license from the Condominium Conversion Board. The Condominium Conversion Board shall have the authority to grant licenses for the conversion of rental housing accommodations to condominium or cooperative accommodations, provided that no conversion of rental housing accommodations shall be licensed for the earlier of a period of one year from the date of enactment of this by-law, or until the Condominium Conversion Board has been appointed and adopted its rules and regulations. Thereafter, no conversion of rental housing shall be licensed until the Board, by written decision, grants a license. The Board shall not refuse to grant a license, if the applicant has complied with all requirements of federal, state, and local law and regulations. C. License may be subject to reasonable conditions. The Board may make the license subject to reasonable conditions for the protection of any tenants. (1) The Board shall use the following factors in setting conditions to the granting of a license: (a) The protection of the public interest of the Town of Lexington; (b) The hardships imposed on the tenants residing in the accommodations proposed to be converted; (c) The aggravation of the shortage of rental housing accommodations in the Town, especially accommodations suitable for families of low and moderate income persons, for single parent households, for elderly, for handicapped or for people on fixed incomes, which may result from the conversion; (d) The hardship on the owner of the real estate to be converted or to the purchaser of the unit; (e) Reasonable arrangements, made by the owner or third parties, to alleviate the hardship on the tenants affected by the proposed condominium conversion. (2) Scope of conditions. The conditions imposed may include (but are not limited to) a time schedule for the sale of the individual accommodations, a requirement that a reasonable percentage (not less than 10% and not more than 20%) of the accommodations be offered to the Lexington Housing Authority, Lexington Housing Assistance Board, or a limited profit or non-profit legal entity on such terms and conditions as will make the offeree eligible for state or federal subsidies and as will make it economically feasible for the unit to be purchased for rental to persons of low or moderate income. Such units shall be permanently kept as rental accommodations for low and moderate income persons.