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Facing Deficit, Santa Monica Rent Board Raises Registration Fee
By Jonathan Friedman
June 12, 2017 -- Not wanting to dig into the reserve fund to overcome a projected budget deficit in excess of $500,000 for the next fiscal year, the Santa Monica Rent Control Board decided Thursday that it would make up the money by raising landlords’ registration fees.
The board voted 4-1 to increase the annual fee from $174.96 per controlled unit to $198. This is the first increase since 2013.
Tracy Condon, the rent board’s executive director, told the board commissioners that there is enough money in the reserve to cover the projected deficit, but it would bring that account’s total to $600,000.
She said doing this would not be fiscally responsible.
This practice ended in 2013 when the rent board limited how much tenants could be forced to pay (“Santa Monica Rent Board Raises Registration Fee, Says Landlords Have to Pay,” June 17, 2013).
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