Ordinance No. 18866 - Laserfiche WebLink

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18866 ~~e~ subsequent rent adjustments, if any, nay be made no soonex t~,an one year from the effective date a~ the l.~,fetime lease, shall be limited to no more than one per year, and the percentage increase ,in ~~rent shall not exceed look of the percentage increase in~the Cortland C~2 for the most recent l2-month period, and ~~~. Except as provided hereinabove, terms and conditions of the lifetime lease shall be the same as those cont~.ined in the tenant's current lease, or rental. agreement. Moving expenses. ~A fixed amount set by adminis- trative rules .issued hereunder which represents an esti- mate of the average moving expenses for a move within the city. A separate amount for elderly and handicapped tenants shall be set which shall include moving expenses attributable to packing and unpacking. Negotiation. Any activity preliminary to the exe-- cution of a binding agreement for the sale or lease of a condominium unit or cooperative share or subscription agreement, including but not limited to advertising, solicitation, and promotion of the sale or lease of such a unit or share. offering. Any advertisement, inducement, solicita- tion, or attempt to encourage any person~to acquire an interest in a condominium unit or cooperative share or subscription agreement, other than as security for an obligation. Rental housing unit. A leased residential unit for individual occupancy containing separate kitchen facilities which has a direct exit to a public street or highway or to a common area or areas leading to a public street or highway. Sale. Every final disposition o.r transfer of a condominium unit or purchase of a cooperative share by a developer or his agent, or by a purchaser from that developer, including the offering of the property as a prize or gift when a monetary change or consideration for whatever purpose is required by the developer or his agent. Shire. A certificate of interest, participation, or ownership in a cooperative corporation.including any subscription, membership, or occupancy agreement. special category tenants. Any person who is elderly, handicapped, or low income. "Elderly" means any.. person who is G2 years of age or over at the time of the notice of planned conversion. "Handicapped" means any individual who, a~: the time of final conver- sion permit issuance, has a physical or mental impair- ment which substantially limits one or more of such person's activities relating to housing. "Low-income" means any person who, at the time of notice of planned ordinance - 6