MCI

MCI increases are the mechanism by which owners of regulated buildings pass a share of building-wide capital work — roofs, boilers, façades, systems — into regulated rents, upon agency approval of the work and its costs. The state's reform sharply curtailed the mechanism: caps tightened, increases became temporary rather than permanent, and eligibility narrowed.

In a building's regulatory record, MCI applications and orders document both capital work performed and the owner's recovery strategy; contested MCIs generate their own adjudication trail. For underwriting regulated buildings under current law, the curtailed mechanism is part of why capital planning and rent-roll growth have decoupled — improvements no longer reliably translate into recoverable rent.