http://www.sfchronicle.com/politics/article/SF-supervisors-to-vote-on-returning-private-12389377.php
Don’t know how how to associate/link to the archived FWF thread but IIRC the prevailing thinking was that the residents f’ud up but they’d get off because rich & connected …
We were right …
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Getting tougher to find these old pages:
https://web.archive.org/web/20171008010610/https://www.fatwallet.com/forums/finance/1580525
Yeah. Those of us who have been living here a while knew how this would play out. As much as FW likes to work a deal like this, you just can’t do that against the nations most powerful people, especially in SF which is like a small town in many ways.
Sounds like a win for the lawyers.
Should’ve sold some parking spots at a deep discount before going public with this and see how those new owners get affected by the reversal.
I was rooting for them, I hope they get a nice payout from the city.
I also hope that the city uses the new $90,000 amount as the taxable assessment and the homeowners have to pay some actual property taxes on their property.
No, the assessment reverts to $14.
What a crock of shit.
Can they sue?
I am not surprised by the decision, but it doesn’t seem like they had any legal right to change ownership of the property.
If they can do that, then no reason the board can’t start reassigning any property to politically connected individuals.
They are suing.
Shepard Kopp, the attorney representing Cheng and Lam, said his clients had bought the property “fair and square in an auction that complied with all laws of the tax collector.”
Kopp said his clients now plan to sue the city.
I smell settlement.
The City saves face with their powerful friends. Cheng & Lam get the $$$ they wanted from this endeavour without a messy sale.
And as usually taxpayer gets screwed for someone else’s mistake.
Rather belated but the couple who bought Presido Terrace is suing the city of SF to get Presido Terrace back:
(Published Jan 10, 2018)
What cracks me up is the end. Our government at work:
Although the city has formally rescinded the sale of the property, Cheng said they “haven’t been given money back.”
They have heard from the city, however: “The only thing they did is send me the new tax bill.”
He said he paid it right away
Ha that is the city of San Francisco for you.
Maybe I’m in the minority, and just cranky today, but I hate all the parties involved here.
The lazy administrators who failed to pay the taxes, the sneaky buyers knowingly getting into a legal battle to try and make some quick cash, the presumably rich people living on that street not willing to settle it fairly in court, then the local government breaking the rules to make said rich people happy. The only people that win are the lawyers, and the losers are the tax payers. Barf.