"Quanta...like spit in the dust of a baseball field" - Cody

November 30, 2005

One Step Closer to the American Dream

The tenancy-in-common logjam at City Hall may be about to give way. Legislation that appears very close to being approved by the Board of Supervisors would modify the condominium conversion lotter so that half of the winners, 100 units, will be determined based on seniority rather than a random draw. As a resident in the oldest TIC still in the lottery, this means we would be all but guaranteed to start the conversion process in February. This will involve substantial investment of time working with the Department of Public Works and money upgrading the building and performing maintenance. But in the end, it will mean much more financial stability for Jay and I.

It's not a sure bet that the legislation will pass when it comes before the full board on Tuesday, December 6, 2005. But the compromise that has been reached with tenants advocates, which restricts the seniority pool to only buildings that have not evicted vulnerable tenants, has won us enough votes from the Board of Supervisors. So it's a step forward.

Unfortunately, there's some very wrong-headed legislation that has been introduced that would place a moratorium on condo conversions and and there is another piece of legislation that would require all conversion to be approved by the Board of Supervisors. Both of those policies would introduce serious, significant and abusive hurdles into a process that already more convoluted than most people can understand.

So one step forward, and perhaps two steps back.

For the SF Examiner's coverage, which quotes Jay Fennelly, click here.

Posted by cbsisco at November 30, 2005 02:19 PM