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18627 | Approved Minutes January 24, 2017 Minutes of the Special Meeting of the Rent Review Advisory Committee Monday, January 24, 2017 1. CALL TO ORDER AND ROLL CALL The meeting was called to order at 6:24 p.m. Present were: Chair Sullivan-SariƱana; and Members Griffiths, Friedman, and Schrader. Absent: Vice-Chair Landess Vacancy: None RRAC Staff: Claudia Young 2. AGENDA CHANGES a. Motion and second to add public comment as item 7-B (Schrader and Griffiths). Approved by unanimous consent. 3. STAFF ANNOUNCEMENTS a. Staff clarified that the Committee will not review cases at this meeting. Rather, this special meeting is held for Committee members to discuss Ordinance no. 3148 as it relates to the Rent Review Advisory Committee. 4. PUBLIC COMMENT, NON-AGENDA ITEMS a. No public comment. 5. CONSENT CALENDAR a. None. 6. UNFINSHED BUSINESS a. No unfinished business. 7. NEW BUSINESS a. Committee members to discuss Rent Stabilization Ordinance no. 3148 as it relates to the Rent Review Advisory Committee Vice-Chair Landess had submitted questions prior to the meeting. The City Attorney responded to these inquiries and staff shared the input. Q: Why is Base Rent Year defined as 2015? A: Base Rent Year becomes relevant and important when calculating Net Operating Income because a Landlord's Net Operating Income in any particular year is compared to the Landlord's Net Operating Income in the Base Rent Year-2015--which was the year before rent control went into effect. That is, there is a presumption that if a Landlord's NOI say, in Page 1 of 7 |