Berkeley Condo Conversion Ordinance
In the coming weeks, the Berkeley City Council will be shaping a new ordinance to regulate the conversion of rental units to condominiums. While being introduced as a "loosening", a closer look into the finer points reveals tells another story.
Some points of the proposed ordinance:
* A 12.5% mitigation fee on the sale of each condominium unit.
* A 10 year freeze on conversions of buildings where an owner eviction has taken place.
* A 20 year freeze on conversions of a building which has been subject to Ellis Act evictions
* Provides for "inclusionary units" of low cost housing in condo-converted buildings of 5 units or more.
* Provides lifetime leases for tenants remaining in condo-converted buildings.
If you want to make your voice heard, there's going to be a meeting tonight at 7:00, at the City Council Chambers located at 2134 Martin Luther King Jr.
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