The maximum adjusted rent for any occupied rental space may be increased without permission of the City as follows:
(a) For a rental space which at any time after August 1, 1980 has not had a rent increase for a period of twelve (12) consecutive months or more, the maximum adjusted rent may be increased in an amount, as set forth in subsection (b) below, and as limited by subsection (c) below:
(b) Automatic annual adjustment. The automatic increase shall be determined by multiplying the maximum base rent by the index.
(c) Notice of increases. Notice of any increase in rent pursuant to this section shall be given in accordance with the Civil Code of the State of California.
(d) Notice of index. After review of pertinent information from the U.S. Bureau of Labor Statistics, the Finance Director or designee shall determine the index for each year, and the Community Development Department shall notify each landlord by mail of their determination.
(§ 2, Ord. 1254-NS, eff. January 23, 1996, as amended by § 6, Ord. 1559-NS, eff. September 6, 2011, as amended by Ord. 1686-NS, eff. August 19, 2021)