February 29, 2024 Breaking News, Latest News, and Videos

Santa Monica’s Measure GA Ballot Item Seeks To Change Rent Adjustment Methodology:

Santa Monica voters will decide Nov. 6 whether the City should change its methodology in calculating annual rent adjustments and base such modifications on a regional inflation rate. The rent control ballot item, Measure GA, is the latest attempt to amend the Santa Monica City Charter.

If approved by Santa Monica voters on Election Night, the ballot measure would amend the City Charter to limit general adjustments for rent-controlled units to 75 percent of the annual percentage change of the Consumer Price Index (CPI) with a zero to six percent adjustment range. The Rent Control Board would also have the “discretion, after holding a public hearing, to impose a dollar limit, within that (zero to six percent) range.”

“It is a formula to make things more predictable. It’s an attempt by rent control to streamline the process,” Robert Kronovet, who is seeking re-election to the Rent Control Board, told The Mirror.

According to a Santa Monica voter information website, the proposed adjustment “is done to ensure that rents for in-place tenants remain approximately stable, (and) is known as the annual general adjustment or ‘GA’ for short.”

“While most jurisdictions now calculate their GA with reference to the rate of inflation as determined by the federal government, Santa Monica uses a more complex formula that is intended to reflect actual changes in the cost of operating rental property in this city,” a statement on the voter website said.

“Measure GA will work to benefit rent controlled tenants in Santa Monica by simplifying the calculation of the annual General Adjustment so it is more predictable and by limiting the maximum possible adjustment for future annual rent increases,” Planning Commissioner Jennifer Kennedy told The Mirror.

“The measure retains the Rent Control Board’s discretion to determine a dollar amount maximum. These amendments will continue to ensure stability for tenants, which is the purpose of the Rent Control Charter Amendment,” Kennedy said.

City officials added an amendment to the charter was necessary because only 12 percent “of local landlord costs could be determined from reliable, available data.”

“Because the formula was so complex, it was often the subject of actual or threatened litigation,” a statement by the Rent Control Board said. “The Board, therefore, recommended that the GA calculation be changed to: save public money; avoid costly and time-consuming litigation; and provide for greater transparency in the GA-calculation process.”

Kennedy added the transparency is “built into” the proposed amendment.

“The oversight is built into the change of methodology. The CPI-based proposal and the current methodology have been historically consistent over the past 30 years. Ultimately, Measure GA will strengthen our rent control law, which is good for tenants and our community,” she said.

Arguments opposing Measure GA were not filed in the State of California’s published Voter’s Guide. Still, Kennedy explained the effects on rent control should Measure GA fail.

“If the measure does not pass, the Rent Control Agency will continue to calculate the annual adjustment using the methodology they currently use. The current formula is complicated and takes into account some costs that are just estimates,” she said. “Disputes over cost increases sometimes lead to litigation, which is an inefficient use of time and public money.”

Council members supported the measure at their July 24 meeting.

“If adopted, this measure would make less complicated the annual rent control general adjustment process. It would also make the annual adjustment methodology easier to understand,” a City staff report stated.

Under law, between one and five council members were allowed to submit arguments in favor or against the ballot measure. As four council members are up for election on Nov. 6, Mayor Richard Bloom said the argument could only be written by any of the three other members.

Council member Pam O’Connor drafted the argument in favor of the charter amendment.

in News
Related Posts

Upcoming Ice Cream Shop on Montana Ave. Will Serve Multitude of Vegan Flavors

February 28, 2024

February 28, 2024

The Company Has Come a Long Way Since Its Humble Beginnings as a New York City Food Truck By Zach...

(Video) Pro-Palestine Protest at the Beverly Wilshire Hotel

February 28, 2024

February 28, 2024

Protesters were there to protest the arrival of U.S. Representative Nancy Pelosi Counter-protesters drove by in a car. @smmirrornews Pro-Palestine...

(Video) Restaurants Replace Glass Front Doors After Late Night Robbery Spree in Del Ray

February 28, 2024

February 28, 2024

Seven restaurants and small businesses in Del Rey and Venice, including Nick the Greek and Dudley Market, were robbed. Council...

SMMUSD Appoints New Asst. Superintendent of Education Services

February 27, 2024

February 27, 2024

Dr. Williamson Will Assume Her Role on March 8, Bringing 17 Years of Education Experience In a special board meeting...

Hollywood Royalty to Shine at 96th Oscars: First Wave of Star-Studded Presenter Lineup Unveiled

February 27, 2024

February 27, 2024

Incredible Lineup of Actors and Previous Oscar Winners Announced Executive producer and showrunner Raj Kapoor, along with executive producers Molly...

Vote Smart, Vote Early: Streamlining Your 2024 Presidential Primary Experience in L.A. County

February 27, 2024

February 27, 2024

Skip the Lines and Save Time – Your Guide to Early Voting Options  In preparation for the upcoming 2024 Presidential...

Iconic Venice Beach Sculpture and Landmark to be Removed, Returned to Artist’s Property

February 27, 2024

February 27, 2024

Since the Money, Effort or Desire to Purchase the Piece Appears to Not Be There, the Artist Wants It Back...

(Video) Heartfelt candlelight vigils in Westchester and West Hollywood for Nex Benedict

February 27, 2024

February 27, 2024

The non-binary 16 year old student with Choctaw ancestry died in Owasso, Oklahoma after being beaten by three older high...

Sweet Lady Jane Sparks Hope of Return – Popular Bakery Hints at Reopening Across LA

February 27, 2024

February 27, 2024

After Abrupt Closures, Beloved Bakery Hints at a Comeback, Leaving Fans Intrigued  Sweet Lady Jane, a Los Angeles cake bakery...

Waymo’s LA Expansion Hits Roadblock: CPUC Temporarily Halts Self-Driving Company’s Plans

February 26, 2024

February 26, 2024

California Public Utilities Commission suspends Waymo’s service expansion for 120 days. California’s Public Utilities Commission (CPUC) has put a temporary...

Real Estate Giant Funds LAPD Union Fund to Sway L.A. City Council Election in March

February 26, 2024

February 26, 2024

Santa Monica Company Responsible for LA’s Largest Mass Eviction Gives $400,000 Santa Monica-based Real estate investment trust company Douglas Emmett...

Santa Monica College Unveils 2024 Spring Jazz Series Lineup

February 26, 2024

February 26, 2024

Tickets for each concert are priced at $10 and can be purchased in advance The Santa Monica College Music Department...

Downtown Wellness Center Bridges Gap Between Psychedelics and Meditation

February 26, 2024

February 26, 2024

The Center Has Partnered With Local Agencies and Gave Free Sessions to Around 500 Veterans in Two Years By Zach...

Santa Monica-Malibu Unified School District Calls Special Board of Education Meeting

February 26, 2024

February 26, 2024

SMMUSD Gathers to Address Time-Sensitive Resolutions In a press release sent on Saturday, February 24, The Santa Monica-Malibu School District...

 39th Independent Spirit Awards Celebrates Independent Cinema in Santa Monica

February 25, 2024

February 25, 2024

Santa Monica Pier Hosts Annual Awards Ceremony Amid Pro-Palestinian Protest The 39th Independent Spirit Awards ceremony, another precursor to the...