HomeMy WebLinkAbout04-04-1985 MHRRB Minutes��i►►�► II II III I IIII 111111 �f 1�1�� ►til 111
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HUMAN RELATIONS COMMISSION • 979 PALM STREET
Post Office Box 321 • San Luis Obispo, CA 93406-0321 • 805/549-7150
M I N U T E S
MOBILEHOME RENT REVIEW BOARD
APRIL 4, 1985
BOARD PRESENT: Swem, Barlow, Wright, Benson and Wheeler.
STAFF PRESENT: Henderson and Picquet
The meeting was called to order by Chairperson Swem at 2:10pm. Introductions
were made and the minutes were approved by consensus.
RATE OF REASONABLE RETURN
City Attorney Roger Picquet brought the board members up-to-date which was
followed by some general discussion surrounding rate of return.
Public Testimony was presented by Mr. Gerald Taylor. He gave board members
two handouts (Mobilehome Appraisal Guide and Residential Land Use Economy
Study) for their information. He recommended three avenues of determining
rate of return.
1. Return of Equity
2. Return of Value
3. NOI as a percentage of the gross.
He felt that considering all aspects it was fair to assume that 16% was
reasonable.
Mr. Ed Zolkowski reminded the board that they could not reduce this matter
to mathematics and figures. The board needs to consider the human element.
Chairperson Swem said the board members should consider two and three dif-
ferent approaches.
The meeting was adjourned at 4:10pm and will convene again April 11, 1985
in a double session to hear the Chumash Village Mobilehome Park application
for rent increase.