The Loft Board just adopted a regulation that might as well be entitled "New York on $1,000 per day." That's the Loft Board's price tag for going nowhere with your efforts to legalize your IMD building.
The Loft Board's new regulation (adopted on April 15, 2010, effective on May 21, 2010) promises to impose penalties of $1,000.00 per day upon all IMD owners who fail to take "all necessary and reasonable action" to obtain a residential Certificate of Occupancy.
Beginning June 1st, all IMD owners who have not obtained a Certificate of Occupancy must file a monthly report with the Loft Board - or suffer a penalty of $1,000.00 for failure to do so. In addition, anything you say can and will be used against you in future Loft Board proceedings to impose penalties.
Penalties can be imposed without a hearing for certain types of infractions, such as failure to file a monthly report with the Loft Board.
This is only a very brief summary of the regulations. The regulations - which should be read by every IMD owner, IMD architect and IMD attorney - are posted on the Loft Board's web site.
Wednesday, April 21, 2010
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