(F) Maximum rent levels. The Board may remove maximum rent levels established pursuant to Subsections 10-2.4, 10-2.5 or 10-2.7, for any class of controlled housing accommodations if, in its judgment, the need for continuing such maximum rental levels no longer exists because of sufficient construction of new housing accommodations, the rental levels for which are comparable to the rental levels of the class of controlled housing accommodations for which the maximum rental levels are to be discontinued or because the demand for housing accommodations has otherwise been met. Any maximum rental level removed pursuant to this division (F) shall be reimposed or adjusted and reimposed upon a finding by the Board that a substantial shortage of housing accommodations exist and that such reimposition is necessary to serve the public interest. Any action under this division (F) shall be subject to the hearing and notice requirements of Subsection 10-2.7(B).
(Ord. 1972 c. 19; Ord. 1974 c. 13; CBC 1975 Ord. T10 § 5; Ord. 1979 cs. 29, 37; Ord. 1981 c. 8; Ord. 1982 cs. 15, 16, 17, 26, 37; Ord. 1983 cs. 1, 9, 17, 23, 33; CBC 1985 10-2.5) Penalty, see Subsection 10-2.17
Cross-reference:
Fire Prevention Code, see § 11-5