SF Board OKs Condo Conversions Despite Poison Pill Worries

Law360, New York (June 12, 2013, 1:44 PM EDT) -- The San Francisco Board of Supervisors on Tuesday pushed through a controversial proposal to allow tenancies-in-common apartment owners to convert their units into condominiums for a fee, with some opposing commissioners arguing the legislation holds a legal poison pill.

In a divided 8-3 vote, the board voted to give TIC owners a way to pay their way around an overloaded lottery system that’s used to choose which owners can convert their units. But several commissioner, including Supervisor Mark Farrell who had originally proposed the legislation, balked...
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