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Old Posted Mar 22, 2012, 4:07 AM
Fab Fifties Fan Fab Fifties Fan is offline
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Join Date: Jun 2011
Posts: 288
El Mirador

Well, finally back home in San Diego after our road trip to Los Angeles and points north. Would have been much better in L.A. if the weather had not been so rainy/windy!

So now, about the El Mirador. Our firend was able to make me feel better about the future of the building even though many things are still up in the air.

The first positive is that there is now a fairly open line of communication between the property owner, Jerome Nash, and the City of West Hollywood. A style of replacement wimdows has been agreed upon and they are on order.

The city and Nash have made a pact to work in cooperation with each other to ensure that the building does not continue to deteriorate while it remains empty. And now to that point.

Mr. Nash is working with the state to try to vacate the Ellis Act. There is a clause in the act that does allow for applying to vacate it, but, there are a whole lot of hoops to jump through. The biggest is a minimum fine of 12.5% of the buidling's current assessed value (if the building is 50 mil, that would make the minimum fine 6.25 mil, or so). The second is that he would have to offer rent controlled apartments back to the 23 tenants he evicted under Ellis. Their rent would be calculated from the baseline of what they were paying prior to the Ellis declaration.

For their part, the city is working with the county trying to find tax breaks that may help Nash defray some of the intial costs for both the fines and the needed renovations.

Of course, their is a possibility that the request to vacate could be denied. If so, the building will sit empty for 8.5 more years. Let's hope it doesn't come to that!

That is the Readers Digest condensed version on what is happening. There is "dirt" of course, but I'll save that for later

~Jon Paul
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