Subject
Communication from the Los Angeles Housing Department, dated April 26, 2005, relative to the removal of property at 1586 West 35th Street from the Rent Escrow Account Program / Rent Reduction Program (REAP/RRP) - Case No. 7491.
File History
4-27-05 - For Council
4-27-05 - File to Calendar Clerk
5-3-05 - Council Action - Resolution ADOPTED - NOW, THEREFORE, BE IT RESOLVED BY THE LOS ANGELES CITY COUNCIL THAT: All orders affecting the units and the common areas have been signed off by the appropriate Enforcement Agency; that there are no other outstanding orders affecting the units or common areas of the building, and all electric service and / or water charges pertaining to the property have been paid to the satisfaction of the Department of Water and Power.
FURTHERMORE, City Council terminates the rent reductions and pursuant to Section 162.08F the rent will be restored to the original level 30 days after the Department mails the tenants the notice of the restoration.
IN ADDITION, City Council terminates the rent escrow account and the funds in the escrow account shall be paid to the extent available in the following order: Administrative fees pursuant to Section 162.07B1 that have not yet been collected, any outstanding fees and penalties imposed pursuant to Article 1 of Chapter XVI of the Rent Stabilization Ordinance, any outstanding rent registration fees in an RSO building and any penalties thereto pursuant to Section 151.05, any remaining funds shall be returned to the current landlord.
SPECIFICALLY, The property at 1586 West 35th Street shall be removed from the Rent Escrow Account Program and the Controller is authorized to expend funds from the Rent Stabilization Trust Fund No. 440 to reduce liability from the REAP Escrow Account No. 2220 upon proper demand by the General Manager of the Los Angeles Housing Department - Case No. 7491.
5-6-05 - File in files