· Here is the full text of Measure M, the Santa Cruz Rent Control and Tenant Protection Act as submitted to the city.
· In 1994 San Francisco passed a rent control initiative. In 2017 a team at Stanford University did a detailed study on the resulting effects on the rental market. It is quite technical, but the results were clear. Making the points without the math here are San Jose Mercury News and Stanford Business School Review articles on it. Here is the full Stanford Study.
· Local UCSC Economist Jesse Cunha recently published this paper on Affordable Housing and Rent Control in Santa Cruz.
· More than 93% of economists say Rent Control does not work. The source of this statistic is an academic survey article Rent Control: Do Economists Agree. Another article from the Library of Economics further explores rent control impacts in other cities.
· Rental control causes significant reduction in rental housing availability. A report from the Santa Monica Rent Board shows 25% of rental units withdrawn since rent control was established (page 6).
· For reference, in a similar city and situation the new City of Mountain View rent control board is requesting a $2.4 million annual budget and that $1.2 million of that come from the City budget with the rest from rents. Details here.
· The Santa Cruz City Council passed a pair of emergency Ordinances set to last until the November 2018 election. The sum of the two is similar to the terms of the ballot measure though slightly less restrictive. The first is a Moratorium on Residential Rent Increases that limits rent increases on specified properties to 2% annually. The second is a Just Cause Eviction ordinance that specifies the circumstances under which landlords may evict tenants. They also have a FAQ specific to the temporary city Ordinances.
. The Santa Cruz City Council is also working on and has out for review a new city ordinance titled RELOCATION ASSISTANCE FOR DISPLACED TENANTS to take effect after the November election if and only if the rent control measure fails.