Housing & Homelessness (News)

Reckless Bank Scheme Could Uproot Mission District Families

Submitted by News Desk on Mon, 05/04/2009 - 10:45am
Source: 


A San Francisco Superior Court judge will rule on summary judgment today for an Ellis Act eviction that could displace twelve tenants from a Mission apartment building. The families at 3465 19th Street (at Lexington) have lived anywhere from five to 32 years at the property, and have deep ties to the community. But the real scandal here is that the landlord, realtor Kaushik Dattani, entered in a risky predatory lending scheme with Circle Bank of Marin that virtuall© Beyond Chrony required mass displacement for it to make sense. In order to buy the building, Dattani took out a $1.296 million interest-only loan (at a whopping 9% interest rate) – with a “balloon payment” at the end of an eighteen-month period. Using the Ellis Act to kick out the tenants was simply a “soft cost” of doing business, as Dattani plans to sell off the units as “tenancies-in-common.” With the real estate market having crashed, Dattani cannot expect to sell the units as T.I.C.’s at a profit – which means the building will be vacant if the tenants lose their homes. And with the “balloon payment” having come due on April 1st, Dattani is likely to foreclose on the property.

The Ellis Act is a state law that allows owners to buy rental property, evict the tenants because they’re “going out of business,” and then re-sell each unit to the highest bidder. Yesterday, the tenants at 3465 19th Street – and some of their neighbors – rallied to save their homes, and denounce the risky high-stakes investor scheme that the landlord had embarked upon. All but one of the units are still occupied, because the Ellis Act gives senior and disabled renters one year to stay – as opposed to four months. The one tenant who had moved out (but lived there for 30 years), showed up to offer her support.

Richmond holds town hall meeting on housing crisis

Submitted by Staff on Mon, 03/23/2009 - 2:14pm
Source: 
http://globenewspapers.com/richmond3.htm

In an effort to offer assistance and guidance to the thousands of residents who reportedly have been kicked out of their homes or are currently facing foreclosure, a housing crisis town hall meeting was held Thursday at St. Mark’s Church in Richmond.

Owners demand relief in face of packing it up

Submitted by Staff on Sun, 03/22/2009 - 10:00pm
Source: 
Contra Costa Times



RICHMOND — On maps showing foreclosed homes in Richmond and San Pablo, the crowded dots look like a giant smudge suffocating Irene Garcia's neighborhood.

Closer up, the dots representing foreclosed homes are more discernible, but they portray a neighborhood in trouble. One is across the street. Another around the block. The next, she said, could be hers.

emailaddress: 
mattobrien@bayareanewsgroup.com

Loans to affordable housing nonprofits appear likely despite tenant fears

Submitted by News Desk on Mon, 03/16/2009 - 12:49pm
Source: 


OAKLAND — Low-income residents, fearing they will be displaced if the city approves loaning almost $10 million to nonprofits poised to take over the buildings those residents call home, asked Tuesday that City Council members cancel those loans.

Their request came as four council members held a meeting of the city's Community and Economic Development Agency, considering what to do with more than 600 affordable housing units left with an uncertain future after the unexpected collapse of the nonprofit that owns them.

Housing renovation funds may displace hundreds of families

Submitted by News Desk on Mon, 03/09/2009 - 3:43pm
Source: 

Stop the displacement: Pack the CEDA meeting Tuesday, March 10, 2-4:30 p.m., at Oakland City Hall, Hearing Room 1, first floor

Oakland - Low-income renters have long complained about being barred from so-called affordable housing developments because they do not earn enough money. And residents of those developments live in fear that renovation schemes will end up displacing them.
© Michael Democker, Times-PicayuneIn recent months, two Notices of Funding Availability (NOFA) were made available for affordable housing projects by the City of Oakland. NOFA-1 is for new construction and substantial renovation of low-income housing, and NOFA-2 is for the renovation of existing low-income rental housing. The funding comes from HUD’s HOME program and other sources.

During November 2008, 11 NOFA applications were submitted to the City requesting $13 million in funding to renovate, rehabilitate or preserve a number of low-income housing sites citywide, placing hundreds of low-income renters at risk of being displaced due to a lack of housing available for relocation while their homes are being renovated. Some of these NOFA applications seek funding to renovate properties that they have not acquired beforehand - properties that are currently in legal dispute.

emailaddress: 
tenantsrule@yahoo.com

Pleasanton General Plan Delayed again by Housing Cap Dispute

Submitted by admin on Thu, 02/12/2009 - 10:07am
Atty. Gen. Brown, lawsuit contend cap blocks affordable units


Pleasanton Weekly Staff

Community and city leaders started updating the Pleasanton General Plan in 2003, a hoped-for three year process that is just now nearing completion and waiting for final approval by the Planning Commission and City Council within the next few weeks.

emailaddress: 
jbing@pleasantonweekly.com

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