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The committee reviewed five rent stabilization program design options with Dr. Edward Goetz, including rent caps, vacancy rules, exemptions, and enforcement. No rent stabilization policy was adopted. The committee also confirmed listening sessions for tenants on May 7 and landlords on May 19.
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The discussion helped identify choices the committee would need to address before drafting a rent stabilization policy, such as how much rents could increase, which properties might be exempt, and how disputes would be handled. Dr. Goetz said rent caps can prevent extreme increases while still allowing increases below the cap, and that new-construction exemptions are common. A historical enforcement-cost estimate discussed at the meeting ranged from $6 to $236 per unit annually in current dollars, but the committee noted that actual costs are uncertain.
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