The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Wednesday, May 2, 2018
Wheeler Proposes Giving URM Owners 20 Years to Upgrade
The Oregonian reports that Mayor Wheeler is hoping to give owners of unreinforced masonry buildings in the city an extra decade to perform seismic retrofits. While the URM Advisory Committee proposed giving building owners 10-15 years to meet mandates, Wheeler is proposing an extension to 20 years. He is also proposing to eliminate the requirement that floors be fastened to walls. He cites the cost of upgrades as the driving force behind his new proposal - the upgrades typically cost hundreds of thousands of dollars. The City Council plans to consider a resolution next week determining the city's rules for upgrading URM buildings. Read more.