ORD 1843 - Laserfiche WebLink

under this Chapter are not allowable as operating expenses. No other attorney fees are allowable. Owners shall bear the burden of production and proof of the amount and purpose of such fees including rate per hour and hours spent. Fees which are clearly excessive in relation to customary and reasonable rates shall be disallowed. (6) Operating supplies such as janitorial, gardening and office supplies. (7) Insurance premiums prorated over the life of the policy; provided, however, that title insurance premiums are excluded. b. The following shall not be included as operating expenses: (1) Debt service expenses, except as provided in subsection 6.60.03 OD of this Chapter. (2) Depreciation. (3) Any expense for which the park owner is reimbursed. (4) Any penalties, fees or interest assessed or awarded for violation of this or any other law. (5) Reserve or impound accounts. (6) Expenses related to the conversion or sale of the park rather than to the improvement and maintenance of the park, including the cost of title insurance. (7) Expenses unrelated to the improvement and maintenance of the park, such as an asset management fee, or expenses clearly excessive in relation to the cuatomary and reasonable costs of such items. 4. "Real property taxes" shall be as defined in subsection 6.60.020M of this Chapter. 5. Base year gross income, operating expenses, and real property taxes for purposes of these fair return adjustment provisions shall mean gross income, operating expenses and real property taxes in the calendar year 2001. 6. In the event a fair return petition involves only a portion of the spaces in a park, the gross income, operating expenses and real property taxes shall be adjusted to reflect the portion of the park that is subject to this Chapter. Income from and expenses attributable to spaces that are exempted from this Chapter shall not be considered. (For example, if40% of the homeowners are subject to this Chapter, then only 40% of the 15