SAN FRANCISCO (CBS SF) — The San Francisco Board of Supervisors will hold a hearing in November on whether to rescind the controversial sale of a private street.
Presidio Terrace, a small, highly-affluent private street on the edge of the Presidio, was owned by the homeowner’s association until 2015.
However, possibly due to an incorrect mailing address, the association failed to pay its property taxes and the property was auctioned off by the city for $90,000 in 2015.
It was bought by a San Jose couple, Tina Lam and Michael Cheng, but property owners only learned of the sale recently, when they were contacted by the new street’s owner.
The homeowners association has since filed a lawsuit challenging the sale and is asking the Board of Supervisors to rescind it.
Supervisor Mark Farrell, who represents the district that includes Presidio Terrace, Tuesday said the board should “get to the bottom of what happened,” including whether property owners were properly notified.
“I want to make sure we have all the facts,” he said. “I want to understand what we can do better and put forward legislation to close any loopholes.”
The hearing is scheduled for Nov. 28 at 3 p.m.