50-50 Split of Capital Improvement Costs Legislation - Current Status — 4/16/99

There is proposed legislation at the Board of Supervisors that would limit the amount of the passthrough to tenants for capital improvement work certified by the Rent Board to 50% of the total amount petitioned for. Owners would continue to use the current system of amortizing the passthrough amount over the appropriate 7 or 10 year time frame, depending upon the type of improvement.

The legislation has been introduced at the Board by Supervisor Katz, but it has not been scheduled for committee hearing yet. Persons interested in this item should contact the Board of Supervisors at 554.5184 to ascertain a copy of the proposed ordinance or to obtain the latest information on the legislation and when it may be heard. Please reference File No. 990441.

4/22/99