Sec. 16B-12. Gross income (GI).

For purposes of this chapter, the gross income (GI) of a manufactured home park shall equal the following:
(a) Gross space rents, computed as gross space rental income at one hundred percent occupancy; plus
(b) Other income generated as a result of the operation of the park, including but not limited to laundry and recreational vehicle storage; plus
(c) Revenue received by the park owner from the sale of gas and electricity to park residents where such utilities are billed individually to the park residents by the park owner, which revenue shall equal the total cost of the utilities to the residents minus the amount paid by the park owner for such utilities to the utility provider; minus
(d) Uncollected space rents due to vacancy and bad debts to the extent that the same is beyond the park owner’s control. Uncollected space rents in excess of three percent of gross space rents shall be presumed to be unreasonable unless established otherwise and shall not be included in computing gross income. Where uncollected space rents must be estimated, the average of the preceding three year’s experience shall be used, or some other comparable method. (Ord. No. 1362, § 1 (part).)