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Pg. 21 <br />CHAPTER III - ALLOCATING TIME TO SERVICES <br />terms and amounts to what is appropriate and reasonable for the City. RCS recommends the <br />following fee/late fee for the City based upon best practices from other jurisdictions with a rent <br />stabilization ordinance: <br />Late Fees starting on Octobe <br />Total Fees & Fines <br />If paid late, 30 days or less past October 1, add 10% late fee <br />Rental Registry Fee + 10% <br />of remaining balance due <br />Rental Registry Fee + 25% <br />If paid 31 to 60 days past October 1, add 25% late fee <br />of remaining balance due <br />Rental Registry Fee + 50% <br />If paid after 60 days past October 1, add 50% late fee <br />of remaining balance due <br />However, RCS recommends waiving all late fees within the first year (FY 2023/24) as the Rent <br />Stabilization Program is being established. This is common with many city programs, which offer <br />amnesty periods to encourage higher participation. Enforcement of the fines and penalties should <br />resume after the first year, subject to approval by City Council in the Miscellaneous Fee Schedule <br />for FY 24/25. <br />CoCity • • 1 <br />