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REDWOOD CITY 9212 <br /> <br />Economic & Planning Systems, Inc. 7 Regulatory Context <br />fund the program through a fee charged to landlords. The proposed Ordinance <br />mandates an initial per year fee of $120 per rental unit covered by rent <br />stabilization and $84 per rental unit that is partially exempt and subject only to <br />just cause eviction protections. If the proposed Ordinance passes, the initial fee <br />would be in place until the City Council approves an alternative fee amount. As <br />described further in Chapter 5, EPS estimates that the initial fee amount is well <br />below the amount needed to fully cover implementation costs. However, the <br />proposed Ordinance prohibits the City from using the General Fund to cover <br />shortfalls in implementation costs. <br />As summarized in Table 2, the proposed Ordinance could complement and, in <br />some cases, override some existing Redwood City policies and initiatives. For <br />example, the City has taken several actions to address displacement, including <br />implementation of its inclusionary housing requirements, investing in affordable <br />housing construction and preservation, and the Live/Work preference policy that <br />provides preference in available affordable housing for income-eligible <br />households that live, formerly lived, work, or have been offered work in the City.9 <br />The City also developed an Anti-Displacement Strategy that encompasses three <br />policy areas: tenant protections, unsubsidized affordable housing preservation, <br />and mobile home preservation. As part of this broader effort, the City recently <br />adopted a Tenant Protection Ordinance to strengthen local renter protections <br />and help reduce displacement risk. <br /> <br />9 Affordable Housing Ordinance & Impact Fees | City of Redwood City <br />8.A. - Page 135 of 168 <br />145