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Title:
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Motion asking the Legislative Analyst to analyze the HOPE initiative measure that is on file with the Department of Elections and for which signatures are currently being collected in order to qualify it for the November 2002 ballot. Because this initiative is in many respects the same as the HOPE ordinance which your office will separately analyze, please consolidate this analysis with the analysis of the HOPE ordinance, with special attention to ways in which the initiative measure differs from the ordinance. In particular, analyze how the process for conversion of rental units to ownership units will take place under this initiative ordinance, and compare this to the process that currently is in place for conversions under Article 9 of the Subdivision code. Where the HOPE conversion process differs with the provisions of the Article 9 conversion process, please identify the function and purpose of the Article 9 section in question. In addition, please assess how this legislation changes timelines for processing applications for conversions, what affect such changes in timelines may have on the ability of City agencies in fulfilling their responsibilities under the initiative ordinance. Also, please analyze how efficiently and effectively this initiative ordinance would be in allocating among City departments the administration of the responsibilities and duties that it imposes. Please also answer the following questions:
1) Based on an analysis of other jurisdictions that have enacted similar measures, are the likely beneficiaries of such a policy existing tenants living in the units to be subdivided, or rather prospective buyers who will move into the units after offering incentives for existing tenants to move out of their apartments; 2) How will the measure impact the availability in San Francisco of what many business leaders refer to as "workforce housing," or housing affordable to the middle class; 3) How might such a measure be phased in as a trial program over time, so that information on its impacts on the housing market may be assessed before it is expanded, and what types of information and processes to collection information would be necessary to assess such impacts; 4) Does this measure contain effective measures to discourage speculation, and what would such measures need to contain to effectively discourage speculation; 5) What would be the effect of allowing conversions on all buildings, regardless of size, and what are the demographic characteristics of tenant populations in different size buildings; 6) What effect would the measure have on the availability of affordable housing, especially affordable rental housing, in the City, and would it be possible to impose an affordable housing conversion fee that would adequately mitigate any potential negative impacts on this supply; 7) How does the measure deal with the question of whether tenants with lifetime leases continue to have access to and enjoyment of common areas in buildings that have been subdivided through the HOPE conversion process; 8) Does the measure contain any requirement for tenant participation beyond the simple signing of an intent to purchase, and how would the addition of provisions requiring further participation by tenants to make the subdivision effective (such as signed purchase agreements for units) affect the ability of the measure to realize its purported goals; 9) What are the potential financial benefits of this measure for owners of existing rental buildings; What would be the estimated affect of this measure on the number of rent controlled units in the City; 10) What is the possibility that any provisions of this measure will be struck down in court, and if certain provisions are struck down what would be the overall effect on the remainder of the measure; 11) What is the average cost in San Francisco for a single family home; According to the 2000 census, how many San Franciscans can afford this average cost; 12) Over the last five years, what was the average sale price of multi-unit buildings in San Francisco; What was the total number of rental units in these buildings; What was the average per unit sale price; According to the 2000 census, how many San Franciscans can afford this average cost; 13) At what level of income is financing available to tenants to purchase their own units under the HOPE legislation; 14) Please explain the recent amendments to the state law known as Costa Hawkins; How would this amendment affect the HOPE legislation; 15) What is the average sale price on comparable sales on condos and TIC.
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