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REDWOOD CITY FAIR AND AFFORDABLE HOUSING ORDINANCE <br /> <br />Economic & Planning Systems, Inc. 13 Tenant Protection Impacts <br />Table 5. Summary of Potential Impacts from Relocation Assistance <br />Type and Incidence of Impact Description of Ordinance’s Potential <br />Impacts <br />Building or Unit Operating Costs <br />(all units) <br />Increase for projects that require tenant <br />relocation <br />Post 1995 Market Rate Multi- <br />Family Rental Buildings <br />Larger, well-capitalized landlords can <br />mitigate financial impacts through increase <br />in rents over time. Smaller “mom & pops” <br />may face additional challenges. <br />Pre-1995 Multi-Family Market <br />Rate Rental Buildings <br />Incentive to rehabilitate or remodel further <br />diminished by tightened rent controls <br />Deed Restricted Affordable <br />Housing (pre and post 1995) <br />While most affordable housing operators <br />provide relocation assistance, the increased <br />costs may affect the feasibility of periodic <br />re-syndication (see Chapter 4) <br />Single-Family, Condos and ADUs <br />Because State and local laws currently <br />exempt most of these units, the proposed <br />Ordinance may further incentivize owners to <br />permanently remove units from rental market <br />New Housing Production (City <br />RHNA Targets) <br />Most new developments in the City do not <br />displace existing residential units (see Table <br />6). May decrease feasibility of residential <br />rehabilitation, but these projects rarely count <br />toward RHNA. <br /> <br /> <br />8.A. - Page 72 of 168 <br />82