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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 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 Ramboll <br /> transport related projects, focusing on the economic and socio-economic impacts 250 Montgomery St., <br /> of these developments. Suite 1200 San Francisco, <br /> CA 94104 US <br /> USA <br /> MSc Ecological Economics, University of Edinburgh, 2001 T+1 510 655 7400 <br /> BA (Mod) Natural Science, Trinity College Dublin, 1999 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 httos://www.oranaecounty.net/cities/SantaAna.htmi <br /> 1/5 <br />