Los Angeles is Shaking Things Up
If you own property in the city of Los Angeles, expect a letter from the city soon. No, you’re not in trouble! Mayor Garcetti has recently approved stricter regulations for earthquake safety. This new law requires that property owners in LA have their buildings retrofitted to withstand a quake – which is going to be quite a costly and time-consuming project.
California is known primarily for its beautiful weather. Its second most recognized quality, though, is its propensity for earthquakes. To most Californians, when we feel a shake, we laugh it off and go on with our day. But what will we do when a large quake hits? The terrifying truth is that sometimes standing in the doorway isn’t enough to save your life. Duck and cover may not keep you safe. Increased building safety will make all the difference.
This new action is the largest earthquake safety regulation change that America has seen. But Garcetti reminds us that he isn’t a bad guy. Over the past several years, City Council has attempted to use similar strategies to force building owners to increase earthquake safety for their buildings, but these actions have always been shot down by property owners. This time, Garcetti is standing his ground. This time he wants owners to realize that it isn’t about money – it’s about saving lives.
The city will begin delivering notices to property owners soon, letting them know what is required of them. It’s still up for debate how exactly these upgrades will be paid for. Property owners may struggle to cover thestaggering costs of earthquake retrofitting, and tenants wouldn’t be thrilled about bearing some of the costs, either. There have been rumors of tax breaks or allowable rent increases to assist owners, but things are still a bit up in the air. One thing is for certain though – LA is serious about being prepared for an earthquake.