UPDATED DRAFT
Table 4-12
City of Salinas
Rent Stabilization Analysis
Estimated Annual Cost Rental Registry and Rent Stabilization Program Item Assumptions Proposed Minimum Average Maximum
CITY COST
Number of Staff
Planning Manager - 0.1 0.1 0.1 0.1 0.2
Community Development Analyst - 1.0 0.0 1.2 1.8 4.6
Administrative Analyst - Housing - 1.0 0.0 1.2 1.8 4.6
Admin Aide - 0.0 1.0 0.5 1.0 2.0
Subtotal - 2.1 1.1 3.0 4.7 11.4
3.0 4.7 11.4
Total Combined with Rental Registry 3.2 5.1 6.7 13.4
Total Staffing Costs Cost per FTE [2]
Planning Manager $235,000 $11,750 $35,250 $26,304 $32,708 $65,611 Community Development Analyst $154,200 $154,200 $154,200 $345,197 $429,242 $861,038 Administrative Analyst - Housing $128,800 $128,800 $128,800 $288,336 $358,537 $719,207 Admin Aide $108,700 $0 $108,700 $54,350 $108,700 $217,400 Subtotal Staffing Costs - $294,750 $426,950 $714,187 $929,187 $1,863,255 Other Costs
Software & Systems Supporters - $10,000 $200,000 $200,000 $200,000 $200,000 Tenant/Landlord Services and Resources [4] - $100,000 $300,000 $300,000 $250,000 $200,000 Subtotal Other Costs - $110,000 $500,000 $500,000 $450,000 $400,000 Total Cost $404,750 $926,950 $1,214,187 $1,379,187 $2,263,255 Source: City of Salinas; EPS.
[2] Staff costs are based on the data received from the Community Development department October 19, 2024. [3] Total Rent Stabilization Program costs include the total for the Rental Registry Program. [4] Third party resource requirements are estimated to decrease with increased levels of City staff. ---------------------------------------- FTEs ---------------------------------------------- --------------------------------- Cost by Staff Level [3]-------------------------------------- [1] See Table 4-11
---------------------------- Other Costs by Staff Level [3] --------------------------------- g
Rental
Registry
Program
Rental Registry + Rent Stabilization Program Level
of Enforcement Range [1]
Prepared by EPS 11/13/2024 Z:\Shared\Projects\SAC\242000\242128 Salinas RSO Additional Analyses\Model\242128_Salinas_Rent_Stabilization_11-13-24
UPDATED DRAFT
Table 4-13
City of Salinas
Rent Stabilization Analysis
Estimated Fee: Proposed Number of FTEs
Year 1
(1/2 Year) Year 2 Year 3 Year 4
Item 30% 40% 50% 60% 100%
Estimated Number of Employees 3.2 FTEs
Residential Units
Fully Covered Units (Qualify for Rent Stabilization) 8,330 Units 2,499 3,332 4,165 4,998 8,330 Partially Covered Units (Qualify for Just Cause Protections) 14,464 Units 4,339 5,786 7,232 8,678 14,464 Fee Amount to Break Even based on Level of Staff and
Third Party Services + Software
Rent Stabilization Program + Rent Program $170 per unit/per year $212,422 $566,459 $708,073 $849,688 $1,416,147 Rent Program $45 per unit/per year $97,632 $260,352 $325,440 $390,528 $650,880 Total Annual Revenue $310,054 $826,811 $1,033,513 $1,240,216 $2,067,027 Estimated Costs [1]
Staffing Costs 1.00% annual increase $426,950 $431,220 $435,532 $439,887 $426,950 Software & Systems Supporters 0.05% annual increase $200,000 $200,100 $200,200 $200,300 $200,000 Tenant/Landlord Services and Resources 0.05% annual increase $300,000 $300,150 $300,300 $300,450 $300,000 Total Annual Estimated Costs $926,950 $931,470 $936,032 $940,637 $926,950 Program Surplus/Deficit ($616,896) ($104,659) $97,482 $299,579 $1,140,077 Source: EPS.
[1] Estimated annual increases are included to adjust for any increases in staff compensation, software costs, and third party resources costs.
Estimated Revenue and Costs based on Proposed FTEs (3.2) Assumption
Prepared by EPS 11/13/2024 Z:\Shared\Projects\SAC\242000\242128 Salinas RSO Additional Analyses\Model\242128_Salinas_Rent_Stabilization_11-13-24