In support of rent control negotiations between the Keep Massachusetts Home campaign and Massachusetts developers.

The Keep Massachusetts Home campaign, which has been organizing the effort to get a rent control question on November's statewide ballot, has announced that it is in negotiations for a compromise with a group of Massachusetts real estate developers. The terms of the proposal would allow municipalities to choose whether or not to adopt rent control, and it would only allow a limit no greater than the consumer price index plus 5%, or 10%, whichever is lower. While this compromise does not do as much as the referendum question to limit rent increases, an agreement now would ensure that cities like Somerville can prevent some of the most egregious year-over-year rent increases. These negotiations have not yet resulted in a final agreement, but they are a welcome step, and this City Council expresses its support for this process, and its hope that these negotiations result in a successful agreement.