2021-10-12 P&E Agenda - Item 2 - Attachment 6 - Cost Benefit Analysis

COST BENEFIT ASSESSMENT – PROPOSED LOCAL LAW AMENDMENT: SHORT STAY
LETTING & HOME HOSTED ACCOMMODATION


TABLE OF CONTENTS
DOCUMENT CONTROL .................................................................................................................................... I

EXECUTIVE SUMMARY .................................................................................................................................. II

TABLE OF CONTENTS.................................................................................................................................. IV

1.     BACKGROUND....................................................................................................................................... 1

2.     PROPOSED LOCAL LAW AMENDMENT ................................................................................................ 2

2.1        IDENTIFYING THE ISSUE ........................................................................................................................... 2

2.2        CURRENT ENVIRONMENT ......................................................................................................................... 4

2.3        PROPOSED LOCAL LAW AMENDMENT ENVIRONMENT .................................................................................... 4

3.     ESTIMATED COSTS ............................................................................................................................... 6

3.1        COUNCIL COSTS .................................................................................................................................... 6

3.2        ACCOMMODATION PROVIDER COSTS ......................................................................................................... 6

3.3        SUPPLY OF, AND DEMAND FOR, SHORT STAY ACCOMMODATION..................................................................... 8

4.     ESTIMATED BENEFITS ........................................................................................................................ 10

4.1        ADVERSE EFFECTS THAT MAY BE ADDRESSED BY THE LOCAL LAW ............................................................... 10

4.2        POTENTIAL BENEFICIARIES ..................................................................................................................... 11

4.3        RESIDENT HEALTH AND RESIDENTIAL AMENITY.......................................................................................... 11

4.4        RELOCATION COSTS FOR PROPERTY OWNERS DECIDING TO MOVE .............................................................. 14

4.5        LOCAL EMPLOYMENT BENEFITS .............................................................................................................. 14

5.     COST-BENEFIT ANALYSIS FINDINGS ................................................................................................. 15

5.1        QUANTITATIVE ASSESSMENT .................................................................................................................. 15

5.2        FINDINGS ............................................................................................................................................ 16

REFERENCES ............................................................................................................................................... 17




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