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Economic & Planning Systems, Inc.3 <br />KEY FINDINGS <br />1.The Proposed Ordinance’s non-rent control provisions would create <br />material costs and risk to property owners / investors <br />Just cause eviction, relocation, right-to-return, and tenant safety plans <br />apply beyond Costa-Hawkins limits and will affect the City’s rental market <br />more broadly. <br />2.Greatest impacts to pre-1995 rental stock, the buildings currently <br />provide bulk of City’s “naturally occurring” affordable housing <br />Older, smaller properties have lower rents, more repair /maintenance <br />needs, and less ability to absorb new costs and compliance burdens <br />3.Cumulative external pressures amplify impacts <br />Increases in utility costs, insurance rates, interest rates, and a variety of <br />other regulatory changes could also compound effects of the Proposed <br />Ordinance on City’s rental market.