LA still seeks ways to pay for seismic retrofitting

Los Angeles officials want thousands of older apartment buildings to be reinforced against an earthquake, but haven’t figured out the best way to pay for it.

Property owners have said they can’t absorb the cost of retrofits — potentially hundreds of thousands of dollars for larger buildings — and will have to raise rents. Tenant’s rights groups counter that L.A. is already one of the most unaffordable places to live.

“Financing is the part that is going to give us the most heartache here, potentially,” said Councilmember Felipe Fuentes during the city’s Housing Committee meeting Wednesday.

Read Full Article (via SCPR)

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