Doug Shimell

The costly High Rise Sprinkler Retrofit Bill that HAPCO Philadelphia helped delay is suddenly back on Philadelphia City Council’s agenda with a hearing scheduled for November 29th at 10am!

It was originally proposed back in March of 2022, but a coalition comprised of HAPCO Philadelphia, Pennsylvania Apartment Association, and others succeeded in pushing it back.

This legislation would impact high rise buildings over 60 feet and would require the retrofit installation of these sprinkler systems within each unit, without any grants or funding available.

Now, without warning, it’s back and that’s why HAPCO Philadelphia is urging rental and investment property owners to attend an emergency Zoom call Monday November 21st at 1pm.

HAPCO Philadelphia, PAA, and other coalition members will be sending a letter of protest to City Council and is also scheduling a meeting with Councilmember Mark Squilla.

If passed, this bill would be financially devastating to rental owners!

If you, your relatives, or your friends have been toying with the idea of becoming a rental or investment property owner, HAPCO Philadelphia says now is the time!

We want HAPCO Philadelphia rental owners to invite your friends, family, and colleagues to HP’s next Rental Education Seminar!

Learn from the experts how to buy your first rental property quickly and with minimal risk!

WHEN: Thursday December 15th

TIME: 6:00pm to 8:00pm

WHERE: 5356 Chew Avenue, Building B, Philadelphia PA 19138

PARKING: Those who can come early will be able to get the free spots (10-1 free spots). If not, street parking is available.

Philly’s Emergency Pandemic Rental Assistance money has long-since been spent.  And PA Governor Tom Wolf has talked about reallocating unspent funds from other counties to Philadelphia.

But HAPCO Philadelphia was very interested to learn that the federal government just gave New Jersey another $51-million that it took from states that had leftover rental assistance monies.

With many Philly rental property owners still owed tens of thousands of dollars from the eviction moratorium, the need here is much greater!  No offense, NJ.

HAPCO Philadelphia feels It’s potentially good news if councilmembers also adopt a new state law creating tax abatements in dilapidated areas.

Rental property developers have complained for years that they can’t afford to build low-to-moderate-income housing without some sort of financial incentive.

The bill’s author, Council President Darrell Clarke, says another bill needs to be passed to establish the tax incentives before City Council can create abatements in Philadelphia.  But HP says there’s no telling how fast that could occur.