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April 9, 1975

OPENING STATEMENT OF COUNCILMEMBER NADINE P. WINTER

PUBLIC HEARING ON A BILL TO STABILIZE RENTS

IN THE DISTRICT OF COLUMBIA TO ESTABLISH A RENT STABI -
LIZATION COMMISSION AND FOR OTHER PURPOSES (BILL NO. 1-40)

Good morning to this eager body of citizens. We would like to welcome you to share your views with us relating to many problems of rental accommodations. Our Committee is working as expeditously as humanly possible to develop the kind of rental accommodations legislation that will meet the needs of the broadest possible spectrum of our community.

The purpose of the public hearing will be to obtain the views of citizens (particularly those elements in our community most heavily impacted by spiraling housing costs). This public testimony is invited to facilitate the Committee's development of substantive housing legislation which may provide remedies for our current housing ills, especially those relating to landlord-tenant relationships. This legislation will address itself to the procedures and relationships of those administrative and judicial entities involved.

We are seeking solutions to the problems of the housing rental industry, more specifically those encountered by both landlords and tenants in an effort to provide decent housing at a reasonable cost. Therefore, we strongly urge that your testimony be very specific in its recommendations for solutions and that you pay particular attention to whatever differences there may be between this proposed legislation and that which has already been enacted (P. L. 93-157 and Regulation 74-20).

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We must collectively seek solutions in this hearing process along with ways to bring these about. We welcome your participation in this joint venture which is so vital to the stabilization and vitalization of our community. Many people have called to testify; therefore, we are requesting your full cooperation. Please limit your statement to five minutes. If you desire to have a written statement we will incorporate your remarks as a part of the record.

Again, we want to thank you for participating.

60-419 O 75 - 31

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Analysis of some Features of Rent Control In Other Jurisdictions

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Return on Investment

Must be between 6 & 11%

Must not exceed 1:4 X 1967 level.

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Base date return must be betwwen 20-50% of Gross Income in 1971

Must not exceed 8.5%

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