June 20  |  Condo Bypass Update

We have an update for you on the Mayor’s proposed condo bypass legislation. As you know, last week we were pleased to report to you the news that this legislation was submitted as part of this year’s budget process. Unfortunately, the Mayor chose not to put this legislative initiative into the November ballot (his deadline was this last Tuesday). As a result, the budget process (ultimately determined by the board of supervisors) will be TIC owners’ only opportunity this ... | Read More >

June 11  |  Condo Bypass

We have good news to report regarding the proposed one time “condo bypass” for TIC owners, originally proposed in 2009 by Supervisor Elsbernd: the Mayor has included the condo bypass proposal as part of this year’s budget.

The details of the proposal are as follows: TICs must have participated in the 2010 condo conversion lottery in order to be eligible for the condo bypass. The fee for the bypass starts at $20,000 per unit for those who first ... | Read More >