Landlord Repaid Borrowed Money to Reserve Fund

(Decision submitted by Jack Kuttner of the Manhattan law firm of Kucker Kraus & Bruh, attorneys for the landlord.) Landlord applied for MCI rent increases based on building-wide rewiring. The DRA ruled against landlord because landlord had paid for the MCI out of the cooperative building's reserve fund. Landlord appealed, pointing out that although he had borrowed reserve fund money, he had also repaid it. The DHCR ruled for landlord. Landlord was entitled to MCI increases to the extent that the money borrowed was repaid to the reserve fund.

Englander: DHCR Adm. Rev. Dckt. No. IJ230090RO (6/5/95) [4-page document]