The Los Angeles City Council this week endorsed a plan to have property owners and tenants split the costs of earthquake retrofitting.
On Wednesday, the council tentatively approved the proposal on a unanimous vote. The arrangement calls on owners and tenants to share costs of retrofitting equally, which the city attorney’s office will now spell out in an ordinance subject to public comment and approval by the council.
The city this past fall put rules in place to seismically retrofit thousands of buildings throughout the city.
“This is a deal that’s been a year in the making. And it’s the best deal that we could have,” Councilman Gil Cedillo said, according to this Los Angeles Times story. “It took a lot of work to get this done. Those meetings initially were not pleasant …. We’re very happy to get both groups together.”
According to the Times article, landlords will be able to share the costs of retrofitting with tenants over a 10-year period, with maximum rent increases of $38 per month.
Related content:
- Los Angeles lanlords, tenants to split earthquake retrofit costs (ABC 7, Jan. 14)
- LA renters, apartment owners responsible for earthquake upgrades (Los Angeles Daily News, Jan. 13)
- L.A. landlords and tenants will share earthquake retrofit costs under deal approved by City Council (Los Angeles Times, Jan. 13)