On July 2, 2003, a Complaint/Consent Agreement & Final Order (Complaint/CAFO) was filed resolving alleged violations of the Toxic Substances Control Act (TSCA), the Residential Lead-Based Paint Hazard Reduction Act, and the Real Estate Notification and Disclosure Rule. This enforcement action was taken against the Apartment Investment and Management Company (AIMCO) and several related companies (collectively, AIMCO Entities) involved in the ownership and leasing of the 144-unit Casa de Monterey residential complex in Norwalk, California. Under the Complaint/CAFO, the AIMCO Entities have agreed to pay a penalty of $55,000.
The Complaint/CAFO alleges that the AIMCO Entities, in their respective roles as lessors and agents, failed to comply with Section 1018 and the Disclosure Rule with respect to leases of 67 units. Forty-nine of these units were occupied by families with children under six years old, who are most at risk from lead-based paint hazards. The investigation at the Casa de Monterey complex led to a national settlement with the AIMCO Entities, in which the AIMCO Entities agreed to conduct abatement of lead-based paint hazards in its many other residential holdings. The AIMCO Entities have come into compliance with the Disclosure Rule at the Casa de Monterey complex and have fully abated the lead paint present at the complex.