City of Oakland - File #: 13-0342

• File #: 13-0342
• Version: 1
• Name: Amendments To Debt Service Regulations
• Type: City Resolution
• Status: Passed
• File created: 2/5/2014
• In control: Meeting of the Oakland City Council
• On agenda: 3/18/2014
• Final action: 3/18/2014
• Title: Subject: Amendments To Debt Service Regulations From: Department Of Housing And Community Development Recommendation: A. Adopt The Following Pieces Of Legislation: 1) A Resolution Adopting Amendments To The Rent Adjustment Regulations, Appendix A, Section 10.4 To Require That Debt Service Increases For Newly Purchases Rental Properties Not Exceed Debt Service Calculated On A Standard Financing Model, To Limit Debt Service Rent Increases To A One-Time Cap Of Seven Percent Over The Current Allowable Rent Increase, To Require A Rent Increase Based On Debt Service Be Filed Within Three (3) Years Of The Date Of Closing On The Purchase And To Adopt A Grandparent Clause; And

Date	Ver.	Action By	Action	Result
3/18/2014	1	* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council	Adopted
3/11/2014	1	*Community & Economic Development Committee	Approved the Recommendation of Staff, and Forward	Pass
2/25/2014	1	*Community & Economic Development Committee	Continued	Pass
2/6/2014	1	*Rules & Legislation Committee	Scheduled

Title

Subject:      Amendments To Debt Service Regulations

From:            Department Of Housing And Community Development

Recommendation:   

A.  Adopt The Following Pieces Of Legislation:

1) A Resolution Adopting Amendments To The Rent Adjustment Regulations, Appendix A, Section 10.4 To Require That Debt Service Increases For Newly Purchases Rental Properties Not Exceed Debt Service Calculated On A Standard Financing Model, To Limit Debt Service Rent Increases To A One-Time Cap Of Seven Percent Over The Current Allowable Rent Increase, To Require A Rent Increase Based On Debt Service Be Filed Within Three (3) Years Of The Date Of Closing On The Purchase And To Adopt A Grandparent Clause; And