THC Writes letter to Supervisor Nancy Walker urging for support on an amendment to strengthen the residential hotel conversion law.
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TENDERLOIN HOUSING CLINIC
126 Hyde Street
San Francisco, CA 94102
RANDALL M. SHAW
MARY JANE FORAN
STEPHEN L. COLLIER
Supervisor Nancy Walker
President, Board of Supervisors
City Hall, Room 235 San Francisco, CA 94102
Re: Proposed Amendment to Hotel Conversion Law
I am writing to see if you are willing to sponsor an amendment to the residential hotel conversion law which will strengthen its replacement housing component. Currently, section 41.10(a) (4) of the ordinance allows the conversion of a residential hotel room upon payment of what amounts to less than $10,000 per unit (this figure is based on prior experience). Unfortunately, it costs $22,000 per room to purchase a residential hotel in today’s market, which renders the current replacement housing formula grossly deficient. To remedy this defect, the 40% figure used in section 41.10 (a) (4) should be changed to 100% (a copy of the section is attached).
I believe there would be strong citywide support for this amendment, and it is of particular concern to the Mission, Tenderloin, Chinatown, and North Beach neighborhoods. I have spoken to Ed Lee of the Asian Law Caucus and Alton Chinn of the Chinatown Coalition for Better House and they both believe this amendment will achieve one of the main goals of the Chinatown Moratorium. I am thus confident that we will have the broad political support necessary for prompt passage of this amendment.
I look forward to hearing from you or your staff soon.