Saying a big earthquake is inevitable, Los Angeles Mayor Eric Garcetti is supporting a state measure that would offer incentives for people to make their buildings safer during a temblor.
City News Service says Garcetti has backed a measure that would offer a 30 percent tax credit on seismic improvements over five years.
AB428, by Assemblyman Adrin Nazarian, would cover retrofitting for buildings that local governments believe are at risk of collapsing during a quake. It’s estimated that Los Angeles has at least 1,500 such structures.
Garcetti has previously proposed city measures to require strengthening unreinforced wood and concrete buildings that could collapse in a big temblor.
One such collapse killed 16 people during the 1994 Northridge quake.
Was this article valuable?
Here are more articles you may enjoy.
Update: Catastrophe Bond Investors Told to Brace for Jamaica Payout 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
Hurricane Melissa Churns Toward Jamaica as Category 5 Storm 
CyberCube: Insured Loss Estimate From AWS Outage Likely About $40M 
