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Supervisors advance ordinance giving nonprofits first right to buy multifamily buildings to preserve affordability
Summary
Supervisors advanced an ordinance on first reading to grant certain nonprofit organizations a first right to purchase multifamily residential buildings in San Francisco, with the aim of preserving rent‑restricted housing and preventing displacement.
The San Francisco Board of Supervisors on April 16 advanced on first reading an ordinance that would give specified nonprofit organizations a first right to purchase multifamily residential buildings offered for sale, a policy the ordinance’s supporters said is intended to preserve rent‑restricted housing and curb speculative sales.
Sponsor remarks framed the ordinance as an anti‑displacement tool. Supervisor Feuer, who led the discussion after requesting the opportunity to rescind and re‑take the vote so she could speak, said the measure will “provide affordable housing nonprofits with a critical tool to stop the bleeding by…
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