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MEMO <br />To File <br />From Stefanie O'Gorman <br />Subject ECONOMICS ANALYSIS OF SHORT-TERM RENTAL <br />REGULATION <br />Ramboll Americas Engineering Solutions, Inc. (Ramboll) evaluated possible <br />Date November 14, 2024 <br />consequences of a potential ban on short-term rentals in Santa Ana, California. <br />This report was completed Stefanie O'Gorman, an environmental economist with <br />23 years experience in her field. Stefanie specializes in the integration of costs <br />and benefits within decision making and has worked across the spectrum from <br />policy design and development to project and infrastructure delivery. She has <br />acted as an expert witness in a number of planning related enquiries in the UK <br />and Ireland relating to water regulation, marine infrastructure planning and <br />Ramboll <br />transport related projects, focusing on the economic and socio-economic impacts <br />250 Montgomery St., <br />of these developments. <br />Suite 1200 San Francisco, <br />CA 94104 US <br />USA <br />eDUCATION/QUALIFICATION <br />MSc Ecological Economics, University of Edinburgh, 2001 <br />T+1 510 655 7400 <br />BA (Mod) Natural Science, Trinity College Dublin, 1999 <br />F+1 510 655 9517 <br />https://ramboll.com <br />Based on professional experience and judgment, this analysis assumes a <br />reasonably foreseeable potential that: <br />1. A ban on STR will spur new hotel development and, as a result of increased <br />demand on local hotels, local hotel availability will go down and room rates <br />will go up. <br />2. Result of (1), people will be forced to travel further to find available or <br />affordable hotel rooms. <br />Theses assumptions are found to be sufficiently supported by evidence or that <br />insufficient evidence is available to reject them, as outlined here. <br />Introduction <br />Santa Ana, the largest city in Orange County at 27.2 square miles and <br />home to nearly 328,000 residents', is a rich cultural, culinary, and <br />entertainment hub with deep historical roots. As the county seat, it <br />1 https://www.oranciecounty.net/cities/SantaAna.html <br />1/5 <br />