pages: RentReviewAdvisoryCommittee/2017-02-22.pdf, 5
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RentReviewAdvisoryCommittee | 2017-02-22 | 5 | Approved Minutes February 22, 2017 in keeping rents affordable for Alameda residents and providing property owners a fair return on investment. The Committee's task is to find some balance between those tensions. Vice Chair Landess acknowledged that prior property management set an unsustainable precedent of not increasing rent. However, an increase of 32% ($450) is excessive. She stated that having more information on capital improvements would have helped justify such an increase. Without this information, she recommended an increase of $140.00 (10.0%). The Committee recommended a rent increase of $140.00 (10.0%) from $1,400.00 to $1,540.00, effective March 1, 2017. Motion and second (Sullivan-SariƱana and Landess). Unanimous approval. 8. PUBLIC COMMENT, NON-AGENDA, NO. 2. a. No public comment. 9. MATTERS INITIATED a. None. 10. ADJOURNMENT a. The meeting was unanimously adjourned at 8:52 p.m. Respectfully submitted, RRAC Secretary Jennifer Kauffman Approved by the Rent Review Advisory Committee on April 3, 2017. Page 5 of 5 | RentReviewAdvisoryCommittee/2017-02-22.pdf |