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Amend Fiscal Year (FY) 2026-27 Operating Budget by Appropriating Funding From General Fund Reserves For the Continued Operation of the Rent Stabilization Program
It is recommended that the City Council consider the options presented in this report regarding the continuation of the Rent Stabilization and Eviction Control Program and take the following action, as applicable:
1) Adopt the following resolution, if continuation of the Rent Stabilization Program is approved:
Option 1
RESOLUTION NO. 2026-124 - AMEND FISCAL YEAR (FY) 2026-27 OPERATING BUDGET BY APPROPRIATING $273,801 FROM GENERAL FUND RESERVES FOR THE CONTINUED OPERATION OF THE RENT STABILIZATION PROGRAM; OR
Option 2
RESOLUTION NO. 2026-124 - AMEND FISCAL YEAR (FY) 2026-27 OPERATING BUDGET BY APPROPRIATING $355,401 FROM GENERAL FUND RESERVES FOR THE CONTINUED OPERATION OF THE RENT STABILIZATION PROGRAM
2) Authorize the City Manager, or designee, to execute all agreements, amendments, and other documentation necessary for the continued operation and administration of the Rent Stabilization Program, subject to approval as to form by the City Attorney.