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City considering regulating condo conversions

July 11, 2006

Even as the city’s red-hot condo boom shows signs of cooling, the City Council is debating whether it should take steps to better protect renters whose buildings are converted to condos.

Ward 2 Council Member Cam Gordon, who is initiating the debate, would like to see the city approve all condo conversions and provide some compensation to renters forced out of their apartments because they can’t afford the high price of the new condos.

But Council Member Paul Ostrow (Ward 1) told the Southwest Journal that the city doesn’t have any business tampering with private condo developers. “I’m very skeptical and wary of the city’s ability to pay relocation benefits, to prohibit condo conversions, or to regulate them or preclude them,” he told the Southwest Journal.

The Public Safety and Regulatory Services Committee is expected to take up the matter later this month.

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Madness in Minneapolis
Submitted by Mark Koscielski (not verified) on July 11, 2006 - 10:44.

The Madness keeps going on in Minneapolis. Minneapolis has push out most of the poor and low-income people. The Council and Mayor No Nuts, should had done this many years ago. It was reported in the Red Star newspaper about a week go that there was a increase in the number of poor and low income people moving to the suburb. Let me WARN every one in the Ward 1 that when the city wants your house and pull this eminent domain s*it on you, you voted for Pat Ostrow. What’s wrong with relocation benefits? Maybe some council members think that it may take away some of the benefits that they would get for approving a private condo developers plan. Maybe some news group should look at where these past council member are living and working for whom.

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