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Planning Commission Regular Meeting Minutes June 17, 2025 Page 9 2 Mr. Paul White, 3201 32nd Avenue NE, stated that the State required an affidavit showing who the 3 ultimate owners were. 4 5 Chair Socha stated there should be a grandfathered exception for this. It would be unduly infringing 6 on the owner's property rights. Commissioner Corneille stated there has been a big focus on density in 7 rental properties. Corporate ownership has not been discussed previously. He asked what is 8 dangerous if someone owns 5 properties. If the purpose is to preserve affordable housing for those 9 who can afford it and there is a licensing enforcement in place, is there anything bad about 100% of 10 all single-family rentals being owned by one corporation? Chair Socha stated that if one person 11 owned all rentals, that would be a monopoly. The solution is high density. Mr. Grittman stated that 12 historically, ownership housing has contributed to more stable and long-term occupancies than 13 rentals. Owners are typically more involved in the community. 14 15 Commissioner Erickson stated he does not know if it is necessary, along with the 10%, and he does 16 not know if a fifth or sixth property owned by a single entity would be an issue. 17 18 Commissioner Corneille stated that if community ownership were used rather than corporate 19 ownership, that would be better. We would be making the rental of single-family homes less 20 affordable by doing this. It's a question of it being restricted to the few that can afford it. 21 22 Commissioner Erickson stated that doing any sort of restriction makes everything less affordable. He 23 is guessing it is cheaper to rent a house rather than purchase a house. This would restrict a person's 24 ability to live affordably in St. Anthony. 25 26 Chair Socha stated she is still forming her opinion on corporate/community rental ownership. The 27 downside, if there is a limit, what happens if the owner needs to leave temporarily for various 28 reasons, and the other rentals in the area are owned 9% by corporate/community owners, it may not 29 be possible to retain their home for their return. 30 31 Commissioner Mayne stated he would not call corporate ownership community ownership. 32 Commissioner Corneille stated that LLCs are personal ownership with liability protection. 33 Commissioner Mayne is not a fan of any of the languages here. He is supportive of limiting the 34 number of properties by owner, and the declarations required are protection against large corporate 35 ownership. 36 37 Commissioner Corneille stated he would be in favor of the 10% but not with any of the corporate 38 language. In the work session, there was a concern that a corporation would come in a buy several 39 properties. For people who owned before 2000, their generational wealth is on the other side of the 40 coin from new homeowners. Each rental license is registered and enforced on every single property. 41 42 Chair Socha said she still has reservations about moving forward on this. This needs to be as sensible 43 as possible. She believes there needs to be a grandfather clause. She was happy to see there is an 44 exception for 12 months but believes it may need to be longer and be under 10%. She asked why the 45 exception is under the number of properties owned and not under Section C. Mr. Grittman stated that 46 it was his error, and it should be under Section C.