CHICO — Residents of Pleasant Valley Mobile Estates will receive a partial reprieve from a rent hike after the owner announced this morning that it’s reducing the increase from 30% to 10% at the northeast Chico park for seniors.
“Legacy Communities has received needed feedback, directly from our residents, regarding our latest rent increase notice,” Patrick O’Malley, the company’s CEO, said in his announcement. “While we had already been working internally to find a workable solution to our residents’ concerns, over the weekend we engaged in conversations with city leaders in order to add context and negotiate a compromise that would work for all parties involved.
“The announced rent increase will be reduced for the 96 tenants (out of 118 total tenants) who received rent increase notices. The increase will be reduced by more than half, and no resident will receive an increase above 10%,” he continued, adding: “We will provide direct rental assistance to residents who truly and objectively cannot afford the rent increase. Our goal will be (and always is) to prevent any displacement of our residents.”
As this newspaper reported last week, Legacy notified residents it was raising space rents effective Jan. 1. The bumps, up to 30%, followed back-to-back increases of 10%, which compound to 57.5% over three years.
Residents addressed the Chico City Council at its last meeting, Nov. 7, and Vice Mayor Kasey Reynolds made a motion for the council to consider remedies at a future meeting. The residents urged a rent stabilization ordinance for senior mobile home parks.
Reynolds was quoted in the announcement as saying, “As soon as I heard about this situation, I knew we had to act quickly. As a business owner myself, I know how tough it is to stay in business these days. With that said, I’m really glad that 96 families will see direct rent relief as a result of our efforts.”
Mayor Andrew Coolidge said, ““I’m always in favor of having direct conversations with our local businesses. As a result, in this instance, the owners of this community have done the right thing. In these uncertain economic times it’s important that we watch out for those who need our help the most.”
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