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Condo Lottery Bypass Rejected in SF

June 25, 2010 by · Leave a Comment 

Converting nearly 1,800 units into condos for a fee was rejected, costing The City the $8 million the proposal would have generated. San Francisco has a lottery system that selects 200 units annually for conversion into condominiums. With 1,799 units having lost the lottery this year and a multimillion-dollar deficit to close, Mayor Gavin Newsom [...]

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