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UID:Indybay-18734290
SEQUENCE:18837351
CREATED:20130327T023700Z
DESCRIPTION:Fight to Preserve Rent Control\nNo to Fast-Tracked Condo Conversions\nCome 
 to Rally and Supes' Land Use Committee\nMonday, April 8, 12 Noon\nCity Hall 
 Steps\n \nSupervisors Scott Weiner (District 8) and Mark Farrell (District 
 2) are sponsoring legislation that would allow 2,000 buildings that are 
 Tenancies-in-Common to immediately convert to much-higher-priced 
 condominiums. \n\nTheir law would allow 2000 Tenancies-in-Common to by-pass 
 the usual lottery process which limit condo conversions.  Condo conversions 
 provide the incentive for real-estate speculators to buy up buildings, 
 evict the tenants, get would-be home-owners to move into a building 
 together and share a mortgage (Tenancies-in-Common), promising them they 
 can then convert the building into much-more-valuable condominiums, where 
 the owners of each unit hold a separate mortgage and have the flexibility 
 buy and sell their units as individuals.  Affordable rent housing advocates 
 fought and won a lottery process to slow this condo-conversion process way 
 down, but Weiner and Farrell want to give speculators 2,000 buildings worth 
 of  free passes to condo conversion, on a "one-time" basis. Yeah, 
 right!\n\nLow- and very-low-income seniors and disabled people are 
 particular vulnerable in this gruesome process, because they are more 
 likely to have lived a while in rent-controlled housing, which is the only 
 way they can afford to live in the City. When they are evicted as the first 
 step in this condo process, there is nowhere they can afford to live.  The 
 same goes for low-income working families.\n 
 https://www.indybay.org/newsitems/2013/03/26/18734290.php
SUMMARY:No to Fast-Tracked Condo Conversions
LOCATION:SF City Hall Steps
URL:https://www.indybay.org/newsitems/2013/03/26/18734290.php
DTSTART:20130408T190000Z
DTEND:20130408T220000Z
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