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Board tables change to 'substantial improvement' trigger for commercial tenant finishes
Summary
Board members debated whether to replace a valuation-based 50% substantial-improvement threshold with an area-based trigger for tenant finishes in C503. Members raised enforcement and lease-transfer concerns and agreed to table the proposal for redrafting.
Kim opened discussion on C503, noting two matching proposals for commercial and residential: one to strike the section and one to revise the "substantial" threshold. Tim urged replacing the assessed-value test, arguing it rarely measures project scope accurately in local markets and proposing "50% of gross floor area of the tenant space" as an alternative.
The board focused on…
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