No Proof Co-op Reserve Fund Paid for MCI

Landlord won MCI rent hikes based on a new roof installation and exterior work. Tenants appealed and lost. Tenants said landlord was the owner of unsold shares of the co-op building and not the co-op corporation. They also claimed that the co-op reserve fund paid for the MCI. Landlord claimed that the co-op corporation paid for the MCIs through a line of credit. The DHCR said the co-op apartment owner can file for MCI hikes as long as there is no duplication of filings. And tenants submitted no proof that the MCI was paid for from the building's reserve fund.

46 W. 95th St.: DHCR Adm. Rev. Docket No. TL430075RT 8/29/06 [3-pg. doc.]