PROPOSITION TO REPEAL COSTA-HAWKINS SUBMITTED

 A measure that would repeal the Costa-Hawkins law has been submitted for title and summary to the Attorney General and is not in the process of gathering signatures.  Passage of this proposition would allow municipalities to enact rent control measures for millions of apartments currently exempt from such policy.

Our industry is worried that such a move would have a chilling effect on development of multifamily apartments across the state and will exacerbate the affordable housing shortage.  Our industry supports the Costa-Hawkins law, which has spurred the construction of housing in every part of California and are very concerned over this move to repeal the law.  We will keep you posted about the progress of signature gathering.

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