SAN FRANCISCO — Not that there’s ever really a silver bullet for budget problems, but Mayor Gavin Newsom’s proposing killing the condo lottery, and instead replacing it with a simple condo conversion fee — a plan that could generate tens of millions for the city, according to the SF Examiner.

And if the mayor’s wishful thinking does come true, the Board of Supervisors would "immediately" adopt his legislation. As the supervisors insist, the proposal’s a nonstarter: the lottery for allowing tenancies in common to convert to condos exists as a disincentive to landlords to kick out their renters and go condo.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top