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<br />Economic & Planning Systems, Inc. 1 Introduction and Key findings <br />1. Introduction and Key findings <br />The Report evaluates the fiscal and economic implications of a local voter <br />initiative entitled the “Redwood City Fair and Affordable Housing Ordinance” <br />proposed for the November 3rd, 2026 ballot. The proposed Ordinance would <br />repeal Chapters 42 and 42A 1 of the City’s Municipal Code and adopt a new <br />Chapter 42 establishing a comprehensive Rent Stabilization and Tenant <br />Protections Program, including rent stabilization, expanded just cause eviction <br />protections, relocation assistance, anti-harassment provisions, and tenant and <br />landlord petition processes. Economic & Planning Systems (EPS) prepared this <br />Report pursuant to Section 9212 of the California Elections Code which allows a <br />legislative body (e.g., City Council) to commission a study that addresses various <br />impacts of voter initiatives. Such a report can address any or all the following <br />eight areas:2 <br />• Fiscal impact <br />• Consistency with the City’s general and specific plans <br />• Use of land <br />• Infrastructure costs or savings <br />• Business and employment attraction and retention <br />• Use of vacant parcels <br />• Impact on agricultural lands, open space, traffic congestion, existing business <br />districts, and developed areas designated for revitalization <br />• Any other matters the legislative body requests <br />This report evaluates the potential impacts of the proposed Ordinance on <br />Redwood City’s housing market from the perspective of both tenants and <br />property owners/investors, and how these impacts may affect City fiscal <br />performance. It also assesses the administrative, staffing, and programmatic costs <br />required to implement and operate the Rent Stabilization and Tenant Protections <br />Program, including rent regulation, petition processes, enforcement, data <br />management, and tenant services. <br />The proposed Ordinance establishes a rent stabilization framework that limits <br />annual rent increases to 60 percent of the change in the Consumer Price Index <br />(CPI), capped at five percent with no banking of unused increases, and includes an <br />initial rent rollback. It also expands tenant protections beyond State law and the <br />City’s Tenant Protection Ordinance, including enhanced relocation assistance, <br /> <br />1 Note that as of November 10, 2025, Chapter 42A no longer exists. <br />2 California Elections Code Section 9212 (public.law) <br />8.A. - Page 129 of 168 <br />139