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Building Industry Association of Southern California, Inc <br />ORANGE COUNTY CHAPTER <br />February 5, 2018 <br />Mayor Miguel Pulido <br />Honorable City Council Members <br />City of Santa Ana <br />22 Civic Center Plaza <br />Santa Ana, CA 92702 <br />Re: Work Study Session on Rent Control / Stabilization <br />Dear Mayor and Council: <br />On behalf of our membership, I write to express our opposition to Rent Control and <br />Stabilization Policies. <br />The Building Industry Association of Southern California, Orange County Chapter <br />(BIA/OC) is a non-profit trade association of over 1,100 member companies employing <br />over 100,000 people in the home building industry. <br />Counterintuitive to its intent, economists and public policy experts have consistently <br />agreed that a "ceiling on rents reduces the quality and quantity of housing."' In a recent <br />study published by the National Bureau of Economic Research, Stanford researchers <br />found that rent control policies "ended up pulling properties from the rental market – <br />shrinking the rental housing supply overall" and having a "counterproductive effect.'' <br />Additionally, the Legislative Analyst's Office has stated that "many housing <br />programs—vouchers, rent control, and inclusionary housing—attempt to make housing <br />more affordable without increasing the overall supply of housing. This approach does <br />very little to address the underlying cause of California's high housing costs: a housine <br />shortaee." <br />As our mission is to champion housing as the foundation of vibrant and sustainable <br />communities, we can not support a policy that will limit housing in Santa Ana. To <br />address affordability, the reasonable alternative is to produce more housing through <br />smart policies like the City's recently enacted Innovative Housing / Small Lot <br />Subdivision Ordinance. <br />Thank you for your thoughtful consideration and dedication to solutions that facilitate <br />housing. <br />Respectfully, <br />Steven C. LaMotte <br />Chapter Executive Officer <br />1 Paul Krugman. "Reckonings; A Rent Affair," New York Times, June 7, 2000, accessed August 8, 2014. <br />htto //www nytimes com/3000/Q6/Q7/opinion/reckonings a rent-affa'r hlml <br />2 Tanvi Misra. "Rent Control: A Reckoning" accessed February 2, 2018 bitg§ //www tvlap om/ qunv/2018/01/rent- ntmi a-recko 0/551168/ <br />PRE§IPEfdT <br />MIKE PART6AN <br />K8 MQM€ <br />VI9€ PRE§1PENT <br />RISK 4!"QQP <br />TRI PAINT€ I1QME6 <br />TREANR€RtRPPR€TARP <br />§UNT1 KkJMdIM <br />MRKIIQM€§ <br />IMM@PIAT@ PART PR€§!PPNT <br />phPQPEM <br />M€RITA§E NPME§ <br />TRAP€ 99NTRACT9R Y,P. <br />4AN 99PPR€AP <br />P.Q9PREAN PIP€NIN€ <br />9QR1RPRAT19N <br />A5§991ATE VISE PR€§199NT <br />MARK NIMME6§TEIN <br />N€IMMEVER 4 P1419111 4P- <br />M€M§€R-AT-1,AR9€ <br />PETERVANEK <br />FPRPMQ§T 9QMPANl€§ <br />MEM6ER-AT76AR9E <br />6EAN MAT§6€R <br />MANATTPNE6P§A PNIWR§, 4? <br />€49UTIVE Q_FPQPR <br />§TEV€ to MATT€ <br />