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Agenda Item

7.12 16-0558 Subject: Rent Adjustment Ordinance And Regulation Changes From: Housing And Community Development Recommendation: Adopt An Ordinance Amending The Rent Adjustment Ordinance (Article I Of O.M.C Chapter 8.22) To (1) Facilitate Implementation Of The Requirements For Owner Petitions For Rent Increases In Excess Of The CPI Rent Adjustment And Banking; (2) Enhance The Reporting Requirements Due From The Owner To A Tenant Where The Owner Is Not Permitted To Set The Initial Rent At The Commencement Of A Tenancy; And (3) Make Clarifying Amendments For Internal Consistency And Efficient Program Operation