pages: OaklandRedevelopmentSuccessorAgencyandtheCommunityandEconomicDevelopmentCommittee/2013-06-25.pdf, 2
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OaklandRedevelopmentSuccessorAgencyandtheCommunityandEconomicDevelopmentCommittee | 2013-06-25 | * Concurrent Meeting of the Meeting Minutes June 25, 2013 Oakland Redevelopment Successor Agency and the Community and Economic Development Committee 3 Subject: Amendments To Debt Service Rent Increase Regulations From: Department Of Housing And Community Development Recommendation: Adopt The Following Two Pieces Of Legislation: 1) A Resolution Adopting Amendments To The Rent Adjustment Regulations, Appendix A, Section 10.4 To Require That Debt Service Rent Increases For Newly Purchased Rental Properties Not Exceed Debt Service Calculated On A Standard Financing Model, To Limit Debt Service Rent Increases To A One-Time Cap Of Seven Percent Over The Current Allowable Rent Increase, And To Adopt A Grandparent Clause; And 12-0550 View Report.pdf 2) An Ordinance Amending The Rent Adjustment Ordinance (O.M.C. 8.22.090b) To Require Property Owners Seeking Rent Increases Based On Debt Service To File Owner Petitions; 12-0550-1 Or, Alternatively, Adopt The Following Two Pieces Of Legislation: 1) A Resolution To Adopt Amendments To The Rent Adjustment Regulations Appendix A, Section 10.4 To Provide For A Grandparent Clause For Rental Properties With A Purchaser At The Enactment Of Elimination Of Debt Service As A Justification For A Rent Increase; And 12-0550-2 2) An Ordinance Amending The Rent Adjustment Ordinance (O.M.C. Sections 8.22.020 And 8.22.070) To Eliminate Debt Service As A Justification For A Rent Increase 12-0550-2A A motion was made by Councilmember Gibson McElhaney, seconded by Member Kernighan, that this matter be Continued to the *Community & Economic Development Committee. The motion carried by the following vote: Votes: Councilmember No: Councilmember Schaaf Councilmember Aye: Councilmember Gibson McElhaney, Member Kernighan and Vice Mayor Reid The Committee directed staff to bring these recommendations back in the fall when they bring amendments to the Rent Ordinance regarding Capital Improvement costs. There were 20 speakers for this item. City of Oakland Page 2 Printed on 7/10/13 | 2 | OaklandRedevelopmentSuccessorAgencyandtheCommunityandEconomicDevelopmentCommittee/2013-06-25.pdf |