“e. The City imposes this lifetime lease requirement on all property owners seeking to change the form of ownership from a tenancy-incommon interest to a condominium interest. Moreover, the ordinance contains a poison pill: if any owner sues to challenge the constitutionality of this requirement, the City suspends the condo conversion program entirely as to properties with even one tenant.”
“All non-owning tenants, regardless of need or income, are eligible for an offer of a lifetime lease under the ECP and have two years to decide whether to accept it. App. F-8, § 1396.4.5 So long as the tenant remains in the apartment, the City will not accept any waiver of the lifetime lease. App. F-20, § 1396.4(g)(3). Both the offer of a lifetime lease, and the lease itself, are recorded against title to the property, together with a separate binding agreement between the City and the property owners. Id. Moreover, existing tenants may invite family to move into their units, establishing “co-tenant” status and thus becoming eligible for the lifetime lease. App. F-17. The expedited conversion program also contains a program-wide poison pill: any legal challenge from a single property owner suspends the program for all buildings containing even one tenant.”
besides taking by unconstititional ordinance, the below would seem to be the red meat of the story:
“After the Pakdels filed suit on June 26, 2017, the City sent a letter to all owners citywide informing them of the Pakdels’ identity and street address and that, as a result of their legal challenge, there is now a moratorium on all new condominium conversions in San Francisco.”
Home owners don’t become home owners by being stupid.
Apparently you can be stupid and be a San Francisco city planner
The city intends to become the owner of these buildings. They’ll hire friends and family to manage them at exorbitant rates, with the occupants and managers all billing the taxpayers. Since San Francisco is in the red, that means taxpayers in other jurisdictions like you and I will pay for this.