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Apr 05,2007
Stakes raised for LA condo developers
by UPI

LOS ANGELES - The Los Angeles City Council has voted to double and sometimes triple relocation fees condo developers must pay to evict rent-control residents.

The move, coming after more than three hours of debate, represented a significant escalation in the condo conversion wars Los Angeles has experienced over the past five years, but some council members said it wasn't enough.

Several said Los Angeles still needs more condo units and a broader housing policy, the Los Angeles Times said.

The council voted 9 to 5 for new fees ranging from $6,810 to $17,080.

All agreed the fees should be raised but were divided over a provision to allow amounts be adjustable based on such items as age, income and length of occupancy.

Copyright ©  2007, by United Press International. All Rights Reserved.

896 times read

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