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Committee backs ordinance to expand COPPA notices to foreclosures and deeds in lieu
Summary
The committee forwarded an ordinance directing owners of multifamily properties to notify the Mayor's Office of Housing and qualified nonprofits of foreclosure proceedings and including 'deed in lieu of foreclosure' as a transfer triggering Community Opportunity to Purchase Act (COPPA) notice requirements; committee discussion focused on closing a perceived loophole and on funding to act on notices.
San Francisco — The Government Audit & Oversight Committee on April 4 voted to forward to the full Board an ordinance that would require owners of multifamily residential buildings to provide notice of foreclosure proceedings to the Mayor's Office of Housing and Community Development and to qualified nonprofits, and to add deeds in lieu of foreclosure to the list of transfers that require COPPA notices.
The clerk read the ordinance and Chair Dean Preston presented the item on behalf of sponsor Supervisor Aaron Peskin, who was not present. Preston described…
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