(5) The provisions of Ordinance No. 181-79 have successfully reduced the rate of rent increases in the City and County, along with the concomitant hardships and displacements. However, a housing shortage still exists within the City and County of San Francisco and total deregulation of rents at this time would immediately lead to widespread exorbitant rent increases and recurrence of the crisis, problems and hardships which existed prior to the adoption of the moratorium measures.
(6) This ordinance shall be in effect for 15 months. During this time, a Citizens' Housing Task Force shall be created to conduct a further study of and make recommendations for, the problems of housing in San Francisco. In the interim, some immediate measures are needed to alleviate San Francisco's housing problems. This ordinance, therefore, creates a Residential Rent Stabilization and Arbitration Board in order to safeguard tenants from excessive rent increases and, at the same time, to assure landlords fair and adequate rents consistent with Federal Anti-Inflation Guidelines.
(c) The people of San Francisco hereby find and declare:
(1) Present law provides that the annual allowable rent increase shall be 60 percent of the Consumer Price Index but in no event less than four percent of the tenant's base rent.
(2) Rent increases of 60 percent of the Consumer Price Index are sufficient to assure landlords fair and adequate rents consistent with Federal Anti-Inflation Guidelines.
(3) Since 1984, 60 percent of the Consumer Price Index has been less than four percent per year, so landlords have been able to impose yearly rent increases above the rate of inflation since 1984.