Tuesday, April 9, 2019
San Francisco Considers Right of First Refusal for Nonprofits on Multifamily Sales
San Francisco Supervisor Sandra Lee Fewer has sponsored a proposal that would give nonprofit groups the right of first refusal to buy any buildings with more than three units. If the law passes, landlords wanting to sell their buildings would need to notify qualified nonprofit groups of their intent to sell. The groups would have five days to express interest and an additional 25 days to structure a deal with tenants in the buildings. Thereafter, nonprofits would have the opportunity to match any offer received from a private buyer. Read more.