KNX 1070 NewsRadio Report: Who Should Pay for Earthquake Retrofitting — Tenants or Landlords?
LOS ANGELES (CBS) — The Los Angeles City Council Housing Committee considered a Housing and Community Development Department proposed compromise in which building owners and renters would share the financial burden equally of earthquake retrofit cost that will be mandated for some 13,ooo concrete and soft story apartment buildings in Los Angeles. Under the plan, tenants would face rent increases over a 10-year period, with a maximum increase of $38 per month.
KNX Newsradio’s David J. Singer talks with Coalition for Economic Survival Executive Director Larry Gross on the impact this could have on tenants.
Gross said, “Clearly everyone wants to see these buildings made safe. But the key question here is who pays, how much and for how long.