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Private property rights mean nothing in San Francisco. Maybe it is the drugs that take away their thoughts of honesty.
"Mayor Gavin Newsom, in an attempt to balance a potential $500 million deficit, proposed earlier this year to allow more than 2,000 TIC unit-owners to change their properties into condominiums for an increased fee, normally $9,099. The initiative could have collected approximately $8 million in revenue, while also allowing 1,799 unsuccessful lottery applicants a chance to transform their units into condominiums. The mayors press office did not provide a quote by deadline.
However, the budget committee of the San Francisco Board of Supervisors recently rejected the potential $8 million gain by blocking the mayors condominium lottery bypass proposal. Supervisors John Avalos, Sophie Maxwell and David Campos voted to table the proposal, while Supervisor Sean Elsbernd voted to recommend, with Supervisor Ross Mirkarimi excused."
I should also mention that San Fran is $483 million in deficit--so they are throwing away $8 million in fees, for doing nothing.
Why is the economy of California in collapse? San Fran and the spreading of its cancer to the rest of the State.
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"Mayor Gavin Newsom, in an attempt to balance a potential $500 million deficit, proposed earlier this year to allow more than 2,000 TIC unit-owners to change their properties into condominiums for an increased fee, normally $9,099. The initiative could have collected approximately $8 million in revenue, while also allowing 1,799 unsuccessful lottery applicants a chance to transform their units into condominiums. The mayors press office did not provide a quote by deadline.
However, the budget committee of the San Francisco Board of Supervisors recently rejected the potential $8 million gain by blocking the mayors condominium lottery bypass proposal. Supervisors John Avalos, Sophie Maxwell and David Campos voted to table the proposal, while Supervisor Sean Elsbernd voted to recommend, with Supervisor Ross Mirkarimi excused."
I should also mention that San Fran is $483 million in deficit--so they are throwing away $8 million in fees, for doing nothing.
Why is the economy of California in collapse? San Fran and the spreading of its cancer to the rest of the State.
More...