With the images of Mexico City’s devastating earthquake still fresh in everyone’s minds, the Rent Control Board stressed urgency during last week’s discussion of mandatory earthquake retrofit costs.

The Board is considering whether owners should be allowed to pass through the costs of retrofitting their building to rent controlled tenants.

“I think we are up against the clock when facing the big one and it’s scary because we are behind,” board member Nicole Phillis said. “There are 1,300 buildings that are vulnerable and I’m concerned with creating an incentive system that would get retrofits sooner.”

About 550 buildings owners will have received notices to inspect their buildings by the end of October, however, some buildings will not receive notices until August 2018, according to the City’s notification schedule.

The board unanimously agreed that they need to hear much more from the community and stakeholders before they make a decision.

Read More: http://smdp.com/threat-of-the-big-one-looms-over-rent-control-board-discussions/162898