(a) The ADUAB shall initially and semiannually thereafter establish the County-wide rental control price of ADUs (“ADU rental control price”). ADU rental control price shall be established according to the Washington Metropolitan Statistical Area (MSA) median income as published by the Department of Housing and Urban Development and/or such other indices that reflect the cost of rental housing in the County as selected by the ADUAB.
(b) ADU rental control prices shall be based upon a determination of all ordinary, necessary and reasonable costs required to construct and market the required number of rental ADUs by private industry in the area, including the area's current general market and economic conditions. The process for establishing the ADU rental control price will be determined by the ADUAB. The ADUAB will determine and recommend those costs to be included within the ADU rental control price and those costs to be excluded. In establishing ADU rental control price, consideration shall be given to reasonable and customary allowances in the rental industry for construction, financing and operating costs per unit.
(c) ADU rental control price shall be established such that the owner/landlord shall not suffer economic loss as a result of providing rental ADUs.
(Ord. 99-07. Passed 6-16-99; Ord. 19-13. Passed 7-10-19.)