San Fran To Triple Blight Penalties For Foreclosure Owners

Law360, New York (September 25, 2012, 7:48 PM EDT) -- The San Francisco Board of Supervisors on Tuesday approved new legislation that triples civil penalties linked to blighted properties for individuals or entities, such as banks and other real estate companies, that own more than 10 foreclosed properties.

In a unanimous vote, the board greenlighted the ordinance to amend the city's police code on a first reading. The legislation will give local courts authority to increase their civil penalties for major property owners, specifically to as much as triple what the court originally assesses is a...
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