Ordinance amending the Subdivision Code to establish procedures regarding resale prices, capital improvement costs, marketing and sales, policies for conveyance through inheritance, title changes, owning, occupying, and refinancing Below Market Rate Condominium Conversion Units (BMR Units), and clarifying effective dates for requirements applicable to BMR Units under Subdivision Code, Section 1344, purchased on or after October 1, 2025.

The Board adopted the Below Market Rate Condominium Conversion Program to preserve low and moderate income housing through the implementation of Subdivision Code Sections 1341 and 1385.

The Board designated the Mayor’s Office of Housing (now MOHCD) as the City department responsible for monitoring the units created by the Below Market Rate Condominium Conversion Program.

The Board adopted Ordinance No. 320-08, which clarified the rules for Below Market Rate Units under Subdivision Code Section 1344.

MOHCD presented the need to update the Subdivision Code to clarify rules and align with citywide BMR program standards, affecting 303 units.

The Land Use and Transportation Committee recommended the ordinance for passage, addressing the need for clarity in the procedures for Below Market Rate Units.

The Board of Supervisors finally passed the ordinance, which clarifies the rules applicable to Below Market Rate Units purchased on or after October 1, 2025.

The Mayor approved the ordinance, finalizing the updates to the Subdivision Code regarding Below Market Rate Condominium Conversion Units.