Owners are required to do the work necessary to obtain a residential certificate of occupancy for the residential portions of the building. The law sets out timetables, also known as Code Compliance Deadlines, to achieve milestones in the legalization process. The milestones are:
An Owner’s failure to meet a milestone deadline does not relieve the Owner of the responsibility to complete the legalization of the building. The Loft Board prosecutes Owners for failing to meet these deadlines. The Board may impose large fines on Owners who fail to comply with the law.
An Owner may apply to the Loft Board for an extension of the time to comply with the Code Compliance Deadlines. The Loft Law allows the Loft Board to grant an extension only if the Owner can demonstrate: (1) that the need for the extension arose from circumstances beyond the Owner’s control and (2) good faith efforts to meet the deadlines.
The failure of a tenant to provide access is not a circumstance beyond the Owner’s control unless the Owner files an access application against the tenant.
See 29 RCNY § 2-01(b)(6) for more information.
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