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Title:
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Ordinance amending the Residential Rent Stabilization and Arbitration ordinance by amending Section 37.7: to codify seven and ten-year amortization schedules for certified capital improvement, rehabilitation and energy costs passed through from landlords to tenants who benefit; to provide that 100% of such certified costs may be passed through to tenants, except that where an application was filed before April 8, 2002 and the decision was not yet final or was subject to direct review as of April 8, 2002, only 50% of the certified costs may be passed through to tenants; providing that no rent increase under this Section 37.7 shall exceed, in a twelve-month period, ten percent (10%) of the tenant's base rent at the time the petition was filed or $30.00, whichever is greater; and providing that a landlord may accumulate any qualifying certified increase that exceeds this twelve-month cap and impose it in subsequent years, still subject to this same ten percent or $30.00 limitation in a twelve-month period.
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