Big City Council Hearing Tonight, Tuesday September 5th
My apologies for sending this out so late:
The Oakland City Council will vote tonight on whether to dramatically change the City's Condominium Conversion Law.
When: Today, Tuesday December 5th, 7:00 p.m.
Where: Oakland City Hall, near the corner of Broadway and 14th Street
Currently, apartment complex owners cannot convert their rental units to condo units unless they build another apartment complex with the same number of units somewhere else in Oakland . The proposed change will eliminate this "one to one replacement" requirement and make it much easier for property owners to convert rental units to condo units.
Proponents argue that making it easier for property owners to convert apartment complexes (like the ones in our neighborhood) into condos will create more opportunities for people to buy condos and become homeowners.
Opponents argue that converting apartment complexes into condos would force many renters out of their apartments because they will not be able to afford to buy their apartment units if they are converted to condos.
While there has been no official vote by the members of this listserv or the residents of this neighborhood, the general consensus from the people I have spoken with seems to be that this proposal is a bad idea. Essentially, people seem to feel that if this proposal passes, the benefits of enabling some people to buy condos would be strongly outweighed by the negative impact of forcing hundreds of renters out of their apartments each year. Many of the residents in our neighborhood could potentially be evicted from our apartment units if we cannot afford to buy them should they be converted to condos.
A Rally against the change in the law will be held at 6:45 p.m. on the front steps of City Hall.