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Integrity and Autonomy of the Board <br />► An integral part of the city government which exercises its powers and <br />duties independently of the City Council, City Manager and City <br />Attorney. <br />/ The Administrator presents the annual budget to the Board for their <br />review, recommendations, revisions and approval following a public <br />hearing. (RCL, Section 1802(a)) <br />/ The Board's reasonable and necessary expenses are financed by <br />charging landlords annual registration fees. (RCL, Section 1803(n)) <br />• The Board sets the fee at an amount they deem reasonable up to a <br />maximum of $288 per controlled unit. <br />• Half of the fee may be passed through to tenants as a monthly <br />surcharge. <br />• Currently $198/controlled unit/year. <br />• Approximately 26,360 billable units for FY 2017/2018. <br />• No money is received from the City's general fund. <br />The Board's Powers and Duties (RCL, Section 1803(f)) <br />(1) Set the rent ceilings for all controlled rental units. <br />(2) Require registration of all controlled rental units under Section 1803(q). <br />• Allows for development/maintenance of one of the Agency's most <br />important resources, the ownership and rent registration database. <br />(3) Establish a base rent ceiling on rents under Section 1804(b). <br />(4) Make adjustments in the rent ceiling in accordance with Section 1805. <br />• Citywide annual rent increase = 75% of change in LA -area CPI <br />• Individual adjustments: <br />• Upward if owner is not making a fair return <br />• Downward if owner fails to maintain the unit or common areas or <br />removes amenities and/or housing services <br />(5) Set rents at fair and equitable levels to achieve the intent of this Article. <br />(6) Hire and pay necessary staff, including hearing examiners and <br />personnel to issue orders, rules and regulations, conduct hearings and <br />charge fees as set forth below. <br />(7) Charge and collect registration fees, including penalties for late <br />payments. <br />Santa Monica Housing Characteristics <br />• Approximately 46,000 occupied housing units in the City (U.S. Census, <br />2012 American Community Survey, estimate) <br />Renter -Occupied —71% Owner -occupied —28% <br />• Approximately 34,000 units potentially subject to the rent control law <br />• Temporary use exemptions (4,700 units) <br />• Rent control registration fee waivers (5,200) <br />9,11 T UUUMAL ming res <br />' woo <br />FEBRUARY 6, 2018 <br />