City of Mountain View

RENTAL HOUSING COMMITTEE

RESOLUTION NO.

SERIES 2017

A RESOLUTIONOF THE RENTAL HOUSING COMMITTEE OF MOUNTAIN VIEW ADOPTING AN ANNUAL GENERAL ADJUSTMENT OF 3.4 PERCENTFOR 2017

WHEREAS, the Community Stabilization and Fair Rent Act (CSFRA) requires the Rental Housing Committee to announce by June 30, 2017 the amount of the Annual General Adjustment that will be effective as of September 1, 2017; and

WHEREAS, the Annual General Adjustment shall beequal to100 percentofthe percentageincreasein theConsumer PriceIndex(All Urban Consumers, San Francisco-Oakland-San Jose region, oranysuccessor designation ofthat indexthat maylater beadopted bythe U.S.Bureau ofLabor Statistics(“CPI”)) as reportedand publishedbythe U.S. Department ofLabor, Bureau ofLabor Statistics, forthe 12-month period ending as of March of the currentyear. The Annual General Adjustment shall berounded to thenearest one-tenth of apercent; and

WHEREAS, in no event shall the Annual General Adjustment be less thantwo percentormorethan fivepercent; and

WHEREAS, the CPI for the period of February 2016 to February 2017 is 3.4 percent; and

WHEREAS,the Rental Housing Committee held a publicly noticed meeting on May 22, 2017 and discussed and considered the CPIfor February 2016 to February 2017;

NOW, THEREFORE, BE IT RESOLVED by the Rental Housing Committee that the Annual General Adjustment for 2017is3.4 percent,and it shall be effective September 1, 2017.

Last updated on 6/15/2017