Section 1.13 Capital Improvements

(Amended February 28, 1989)

            "Capital Improvements" means those improvements which materially add to the value of the property, appreciably prolong its useful life, or adapt it to new uses, and which may be amortized over the useful life of the improvement of the building. Capital Improvements do not include normal routine maintenance and repair. (For example, the patching of a roof is not a capital improvement while the partial or complete replacement of the old roof is; repair of a foundation is considered a capital improvement and not a repair.) Repairs which are incidental to a capital improvement project, or replacement of an item normally considered a capital improvement, are also defined as capital improvements. Capital Improvements otherwise eligible are not eligible if the landlord charges a use fee such as where the tenant must deposit coins to use a landlord-owned washer and dryer.