ACTION ALERT – Supervisor Kuehl pulls Rent Control Ordinance!
Posted July 26th, 2018 |Status:
ACTION ALERT – Interim Rent Control Ordinance pulled from Board of Supervisors meeting Tuesday!
Late last night BizFed was informed by Supervisor Kuehl’s office that they have pulled the Interim Rent Control ordinance from next Tuesday’s (7/31) Board of Supervisors’ meeting. This is not a victory as this item may come back at a later date, so stay tuned. Thank you to all our members who wrote letters, tweeted, and/or made calls to the Board of Supervisors’ offices this past week.
During our mobilization push, we confirmed a meeting with Karly Katona from Supervisor Mark Ridley-Thomas’ office next Monday (7/30) at 1pm.We will still meet with Karly about this policy as there is a statewide effort to repeal Costa-Hawkins, Proposition 10 on the November ballot. This would enable local jurisdictions to enforce their own rent control policies which have proven -through many volumes of research- to make our housing crisis worse. BizFed is opposed to Proposition 10 and is part of this growing coalition. If you like to join BizFed and participate in this meeting with Supervisor Ridley-Thomas on Monday(7/30) please email email@example.com Seating is limited please RSVP ASAP.
CLICK HERE to go to ‘No on Proposition 10’ website for more information and to sign up to fight against this proposition.
MEETING DETAILS WHAT:Meeting with Karly Katona, Supervisor Mark Ridley-Thomas office – Rent Control Policies WHEN: Monday, July 30th at 1:00 pm(Please arrive by 12:45pm) WHERE: Kenneth Hahn Hall of Administration – 8th Floor Lobby, 500 W Temple St, Los Angeles, CA 90012 PARKING & TRANSIT: Parking at Cathedral of Our Lady of the Angels, 555 W Temple St. Transit ride the Metro Red and Purple Lines to Civic Center/Grand Park Station, exit Temple Street.
According to Beacon Economics analysis on Rent Control; Rents are too high because multi-family housing and the state’s housing stock have failed to expand commensurately with the ever-growing population. The solution to this affordability problem is to expand the housing stock in these cities, not introduce price ceilings.
Rent control is a counterproductive housing policy. It will not produce any new affordable housing or address the county’s long-term housing concerns.
Rent control policies creates stagnant markets and increases the cost of housingfor everyone else while leading to a physical reduction in housing stock and deteriorating quality.
The unintended consequence of price controls will not only affect the livelihoods of the tens of thousands of individuals that work, supply and operate communities but will also have a disproportionate impact on the economically disadvantaged.
Developing a rent control initiative will further dwindle the development of workforce and market rate housing production which further raises costs due to scarcity.
A rent control initiative will further erode communities and create areas of neglect because the cost to maintain the units will not keep pace with the rents needed to provide the maintenance.