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REDWOOD CITY FAIR AND AFFORDABLE HOUSING ORDINANCE <br /> <br />Economic & Planning Systems, Inc. 15 Tenant Protection Impacts <br />Table 6. Summary of Potential Impacts from Tenant Safety Plans <br />Type and Incidence of <br />Impact Description of Ordinance’s Potential Impacts <br />Building or Unit Operating <br />Costs (all units) <br />Potential for increase in repair costs, though <br />impacts are difficult to quantify because the City <br />has yet to establish rules and regulations. <br />Post 1995 Market Rate <br />Multi-Family Rental <br />Buildings <br />May increase repair timelines and costs but can <br />be mitigated / recovered over time with higher <br />rents <br />Pre-1995 Multi-Family <br />Market Rate Rental <br />Buildings <br />Increase maintenance timelines and costs will be <br />more difficult to recover because landlords can <br />only increase rents to off-set costs when units <br />are vacated (absent a successful upward <br />adjustment petition) <br />Deed Restricted Affordable <br />Housing (pre and post 1995) <br />An increase in repair timelines and costs may be <br />difficult to recover as these units are subject to <br />regulatory rent limits and for units built before <br />1995, the proposed Ordinance’s rent control <br />provisions. <br />Single-Family, Condos and <br />ADUs <br />Increase in repair costs and timelines may be <br />more difficult for “mom and pop” owners / <br />investors to absorb (e.g., fewer resources less <br />economies of scale). <br />New Housing Production <br />(City RHNA Targets) <br />Minimal impact because need for repairs in new <br />development is less likely in near term (and likely <br />covered by insurance) and the process will likely <br />become clearer over time as rules and <br />regulations are established. <br />Tenant Right to Return <br />The proposed Ordinance strengthens the City’s existing right-to-return provisions <br />that give displaced tenants the legal option to move back into their original rental <br />unit (or a replacement unit) at their previous rental rate when the unit is returned <br />to the rental market. Specifically, as summarized in Table 7, the proposed <br />Ordinance expands the coverage, increases the length of time, and includes <br />program-administered notice requirements. These obligations appear to be <br />especially significant in cases involving withdrawal from the rental market, <br />substantial renovation, or demolition for redevelopment. <br />8.A. - Page 74 of 168 <br />84