A. A park owner may seek a temporary rent adjustment to reimburse the park owner for the reasonable cost of professional services actually incurred by the park owner in preparing and presenting an application under Section 15.20.100 to the hearing officer as set forth in the administrative rules adopted by resolution of the city council. The park owner shall bear the burden of proof and shall provide the evidence to justify a temporary rent adjustment submitted under this section, and approval of the application will be conditioned upon the park owner's successfully obtaining approval of a rent adjustment pursuant to Section 15.20.100 of this chapter. Any temporary rent adjustment shall be amortized over a five-year period with interest at the rate of seven percent per year, compounded monthly, and any increase granted shall remain in effect only during the five-year period. Any such increase shall not be included as part of the monthly space rent but shall be itemized as a separate charge on the residents' monthly rent statement. Nothing in this provision shall preclude a park resident from paying the full amount of the temporary rent adjustment as one lump sum without any payment of interest, following issuance of the city's final decision. Any such lump sum payment shall be made in accordance with the administrative rules adopted by resolution of the city council.
B. The procedures, factors and methodology for submittal of applications and consideration by the hearing officer shall be set forth in the administrative rules adopted by resolution of the city council.
(Ord. 422 § 1, 2023; Ord. 368 § 5, 2017; Ord. 311 § 11, 2011)