9 NYCRR § 2522.4 — Adjustment of legal regulated rent (Rent Stabilization Code, via Cornell LII)

Citation
9 NYCRR § 2522.4 — Adjustment of legal regulated rent (Rent Stabilization Code, via Cornell LII)
Jurisdiction
New York (state)
Source
Official source
Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2522.4 ↗

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Full Text

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(a) At the time of the
initial application for a temporary major capital improvement rent increase, an
owner must apply for a waiver of application of the Reasonable Cost Schedule.
Such application shall include all necessary requirements set forth in
subparagraph (viii) of this paragraph and must also meet the following
requirements:

(1) Non-Landmarked Buildings
(Buildings not designated by the Landmark Commission):

(i) A licensed engineer or architect must
certify that:

(a) the major capital
improvement costs for which an owner seeks a temporary major capital
improvement rent increase are accurate and reasonable under the circumstances;
and

(b) there is no common
ownership or other financial interest between the contractor installing the
replacement or upgrade and the ownership entity of the owner; and

(c) a bid process was conducted and
supervised by a licensed architect or engineer.

(2) Landmarked Buildings (Buildings
designated by the Landmark Commission):

The costs beyond those permitted by the reasonable cost
schedule that were the result of any law, regulation, rule, or requirement
under which the premises have been designated a landmark building.

(3) Capital Improvement Work
Performed While Also Under Another Governmental Agency's Supervision:

DHCR may also accept the cost of contract where:

(i) the building is subject to both (a) the
Rent Stabilization Law, and (b) another housing program, and

(ii) the contract is approved by or awarded
under the supervision of a state, city or local housing entity in conjunction
with that affordable housing program, and

(iii) such supervision includes a process by
which such supervising agency reviews the costs to assure they are
reasonable.

(4)
Emergency Capital Improvements: