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Economic & Planning Systems, Inc. 2 Introduction and Summary of Findings <br />1. Introduction and Summary of Findings <br />This Report provides additional analysis to supplement a previously presented <br />study on the fiscal and economic implications of a local voter initiative entitled the <br />“Redwood City Fair and Affordable Housing Ordinance” proposed for the <br />November 3rd, 2026 ballot. The proposed Ordinance would repeal Chapters 42 <br />and 42A1 of the City’s Municipal Code and adopt a new Chapter 42 establishing a <br />comprehensive Rent Stabilization and Tenant Protections Program, including rent <br />stabilization, expanded just cause eviction protections, relocation assistance, anti- <br />harassment provisions, and tenant and landlord petition processes. The Ordinance <br />would also require the City to fully administer the program and require that the <br />full cost of administration be funded by fees paid by landlords. <br />At its June 8th, 2026 meeting, the City of Redwood City Council requested staff to <br />provide more information on the potential impacts of the proposed Ordinance <br />from its non-rent control provisions, as well as on affordable housing and City <br />finances. Accordingly, this Report builds on the May 15, 2026 “California Elections <br />Code Section 9212 Report” to provide additional analysis related to the following <br />inter-related questions:2 <br />1. How might the proposed Ordinance’s non-rent control tenant protections <br />affect the operations and investment decisions of property owners, operators, <br />affordable housing providers, and investors in Redwood City? <br />2. What are the cumulative impacts of the proposed Ordinance from the <br />perspective of landlords and developers, taking into account external factors <br />that may compound compliance cost? <br />3. What are the potential unique impacts of the proposed Ordinance on the <br />operators and developers of deed restricted affordable housing? <br />4. What additional fiscal risks or implementation challenges could the City face <br />beyond the direct annual program cost estimates identified in the initial <br />9212 report? <br />To assess potential impacts beyond rent stabilization, EPS conducted stakeholder <br />interviews with Redwood City developers, owners, operators, and property <br />managers representing a range of rental housing products and operating models. <br />Interviewees included owners and managers of small and large properties, with <br />portfolios ranging from single-family rentals and small multifamily buildings to <br /> <br />1 Note that as of November 10, 2025, Chapter 42A no longer exists. <br />2 Section 9212 of the California Elections Code allows a legislative body (e.g., City Council) to commission a study that addresses <br />various impacts of voter initiatives. <br />8.A. - Page 61 of 168 <br />71