pages: RentReviewAdvisoryCommittee/2018-06-06.pdf, 6
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RentReviewAdvisoryCommittee | 2018-06-06 | 6 | Approved Minutes June 6, 2018 Member Murray clarified that Member Griffith's proposal would give the landlords an increase in rental income just above 5% over the course of the next year in total amount of rent paid. Member Murray made motion to adopt Member Griffith's proposal: eight months of a $50 increase, followed by an additional $115 increase for the last four months. Vice Chair Sullivan-Sariñana noted that his proposal was only slightly different than Member Murray's original proposal. Member Friedman stated that he favors a proposal where the tenant pays a $50 increase in the first six months, but was not yet sure how much the increase in the second six months should be. The Members reviewed several of the proposals and found that the differences in total rent paid after one year to be minimal. Chair Cambra seconded Member Murray's motion. Vice Chair Sullivan-Sariñana restated that he did not want the base rent to increase by 10%, but would rather have it increase 7.5%, even if it means that the tenant had six rather than eight months of the lower increase. He moved to amend Member Murray's original motion as follows: a $50 increase for first six months, to a total rent of $1,700, then in the second six months an additional $75 to a total rent of $1,775. Member Friedman seconded the amended motion, stating that he believed the concerns for the parties for this year were addressed with either stepped proposal. Member Murray reminded the Committee that Mr. Gravelle would be retiring in one or two years, and the landlords' household income would then go down. She said that they had a legitimate interest in obtaining additional income from their investment property. She stated that she believed the original proposal balances the needs to of the parties more equitably than the amended proposal. City Attorney staff clarified that the vote before the Committee was a vote on whether to amend the original motion, and if it fails, Member Murray's original motion would still stand. The Committee voted on Vice Chair Sullivan-Sariñana's motion to amend Member Murray's motion. The motion to amend Member Murray's original passed 4-1, with Member Murray voting against the motion to amend. Chair Cambra called for a vote on the amended motion to adopt Vice Chair Sullivan- Sariñana's proposal (which was seconded by Member Friedman) for a $50 increase for Page 6 of 7 | RentReviewAdvisoryCommittee/2018-06-06.pdf |