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LA Seismic Retrofit Ordinance – What Owners and Lenders Need To Know

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LA’s Seismic Retrofit ordinance is the country’s most extensive to date, and will have a significant impact on property owners, as well as lenders who need to underwrite for the expense of potential retrofits. This educational webinar will provide information to help those lenders, owners, investors and brokers address new requirements as efficiently as possible.

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Product Description

Late last year, the City of Los Angeles enforced a Seismic Retrofit Ordinance, which mandates the structural strengthening of the city’s vulnerable buildings in coming years in an effort to protect the city against major losses in case of the next major earthquake. The LA ordinance targets wood-framed soft-story and non-ductile concrete buildings, and is expected to impact more than 13,000 properties. San Francisco and several other cities across California have previously implemented similar seismic ordinances, with more cities expected to follow suit.

LA’s ordinance is the country’s most extensive to date, and will have a significant impact on property owners, as well as lenders who need to underwrite for the expense of potential retrofits. This educational webinar will provide information to help those lenders, owners, investors and brokers address new requirements as efficiently as possible. Joe Derhake, CEO of Partner will be joined by structural engineers as well as financing and insurance experts to clarify a number of key questions, including:

  • What are the specifics of the ordinance, and which buildings are impacted?
  • Who bears the cost of retrofits, and what financing mechanisms are available?
  • How can lenders and owners best address new requirements?
  • How can the impact be minimized?
Joseph-Derhake-170x170 mariana-domic-170x170
Joe Derhake, PE
CEO, Partner ESI
“Building a Seismically Resilient California”
Mariana Domic
VP, Property Specialist, Stockton Companies
“Insurance Considerations”
Jay-Grenfell-170x170 allan-freedman-170x170
Jay Grenfell
National Client Manager, Partner ESI
“SF Mandatory Soft-Story Program”
Allan Freedman
Managing Director, Multifamily Finance, Berkadia
“Financial Implications”
Jay-Kumar-170x170 taylor-libolt-170x170
Jay Kumar, PE
Technical Director, Structural Engineering,
Partner ESI
“LA Seismic Retrofit Ordinance”
Taylor Libolt
Director, Municipal Development,
Energy Efficient Equity
“PACE Financing”
Bryan-Cortnik-170X170
Brian Cortnik, PE, SE
Technical Director, Seismic Design, Partner ESI
“Retrofit Options”

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