San Fran Panel Advances Condo Conversion Proposal

Law360, New York (April 22, 2013, 9:55 PM EDT) -- After weeks of debate and negotiation, a San Francisco committee advanced a controversial proposal Monday that would allow tenancies-in-common apartment owners to convert their units into condominiums for a fee — but with fewer incentives for developers.

In a divided 2-1 vote, the San Francisco Land Use & Economic Development Committee voted to recommend the proposal, which would give TIC owners a way around a currently overloaded lottery system that’s used to allow certain owners to convert their units. The vote pushes forward to the Board...
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