Title
Subject: Amendments To Rent Adjustment Program Regulations
From: Department Of Housing And Community Development
Recommendation: Adopt The Following Pieces Of Legislation:
1) A Resolution Amending The Rent Adjustment Regulations To Provide For Extended Capital Improvement Amortization Periods For Rent Increases Greater Than Ten Percent, Passing Through Seventy Percent Of Capital Improvement Costs, Interest On Capital Improvement Overcharges, Administrative Penalties For Such Overcharges, And Removing The Requirement That Only One Year Of Capital Improvement Increases Can Be Passed Through At One Time [TITLE CHANGE]; And