https://sfgov.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=1048232&GUID=117F1B65-8960-4995-858B-CF508655E7AFLegistar15https://sfgov.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=1048232&GUID=117F1B65-8960-4995-858B-CF508655E7AF117F1B65-8960-4995-858B-CF508655E7AF-2022-04-03-07-36-46Title: Pursuant to Charter Sections 2.103 and 3.100(7), and Administrative Code Section 2.11, the Mayor shall answer the following eligible questions submitted from Supervisors representing District's 2, 4, 6, 8, and 10. The Mayor may address the Board initially for up to five minutes. Discussion shall not exceed five minutes per Supervisor. 1. Tenancies-in-common (TICs) in San Francisco have traditionally been a vehicle to allow residents in our City to realize their goal of home ownership. San Francisco has always promoted a path towards converting TICs to condominiums, which has a number of benefits - principally the ability to obtain lower interest rates for their property. Over the past decade, however, the condo conversion lottery has created a bottleneck for TIC owners, and the chances of prevailing in the condo lottery have continued to diminish year after year. To compound matters, during the recent recession the vast majority of lenders who financed TICs stopped lending into the market, leaving only a handful of financing options - at the same time many TIC owners are noSun, 03 Apr 2022 07:36:46 GMT