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Council approves bond-based assessment program to finance fire-sprinkler retrofits for participating building owners
2728495 · March 21, 2025
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Summary
The council approved a voluntary, single-purpose bond assessment program to finance retrofit costs for building owners who opt in to have fire sprinklers installed, with assessments tied to each building's retrofit cost.
The Los Angeles City Council on Aug. 3 approved a financing arrangement for property owners to pay for required fire-sprinkler retrofits via a voluntary, single-purpose bond assessment.
Councilmember Holden asked staff how the assessment amounts were calculated and whether taller buildings would pay proportionally more. Marla…
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