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REDWOOD CITY 9212 <br /> <br />Economic & Planning Systems, Inc. 8 Regulatory Context <br />Table 2. Comparison Summary of State Rental Laws, City’s Tenant Protection Ordinance, and the Proposed Redwood City Fair and Affordable <br />Housing Ordinance <br />Provision <br />Tenant Protection Act (TPA) <br />(State law) <br />City’s Tenant <br />Protection Ordinance Proposed Ordinance <br />Rent Stabilization 5% + change in Consumer Price Index <br />(CPI) or 10%, whichever is lower <br />N/A (TPA applies) • 60% of the percentage change in the CPI, max 5%; no <br />banking; fair return petition allowed <br />Vacancy <br />Decontrol <br />Costa-Hawkins 10 applies. Initial rent set <br />at market; caps apply thereafter <br />N/A (Costa-Hawkins and TPA <br />applies) <br />• Costa-Hawkins applies. Initial rent set at market; caps <br />apply thereafter <br />Applicability Applies broadly with certain exemptions Same as TPA • Broader applicability; fully covered units include deed- <br />restricted low-income units and mobile homes and single- <br />family homes are subject to just cause requirements <br />Single Family <br />Homes & Condos <br />Exempt from all requirements, if not <br />corporate owned and notice provided <br />Exempt from all requirements, <br />if not corporate owned <br />• Exempt from rent stabilization under Costa-Hawkins. If <br />Costa-Hawkins is repealed or amended; exempt if <br />constructed within previous 10 years. <br />• Subject to all other requirements. <br />Deed-Restricted <br />Affordable <br />Housing <br />Exempt from all requirements Exempt from all requirements • Exempt from rent stabilization for units constructed after <br />1995 under Costa-Hawkins. If Costa-Hawkins is repealed <br />or amended; exempt if constructed within previous 10 <br />years. All other deed restricted affordable units are fully <br />covered by proposed Ordinance. <br />• Units owned and managed by a San Mateo County <br />government unit, agency, or authority are exempt from <br />rent stabilization <br />New Construction Exempt from all requirements for 15 <br />years (rolling) <br />Same as TPA • Exempt from rent stabilization for units constructed after <br />1995 under Costa-Hawkins. If Costa-Hawkins is amended <br />or repealed, exempt for 10 years (rolling) <br /> <br />10 The Costa-Hawkins Rental Housing Act is a 1995 California State law (Costa-Hawkins) that limits local rent control ordinances. It mandates "vacancy decontrol," allowing landlords to <br />raise rents to market rates when a unit becomes vacant, and exempts single-family homes, condominiums, and housing built after February 1, 1995, from local rent control. <br />8.A. - Page 136 of 168 <br />146