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The Culinary Workers Union Local 226 on Wednesday launched a ballot initiative that aims to keep rental prices from outpacing cost of living increases. The proposed ordinance, which would only affect North Las Vegas, would tie the cap on annual rent increases to the changes in consumer price index in North Las Vegas and additionally impose a maximum year-over-year cap on rent increases at 5 percent.

“North Las Vegans are being pushed out of their homes by rent increases that are among the highest in the nation. On top of 8½ percent inflation in gas and groceries, rising rents are a blow to working families who are still recovering from the COVID-19 pandemic,” said Ted Pappageorge, the union’s secretary-treasurer, in a press conference announcing the initiative.

Pappageorge said the proposed ordinance is an effort to blunt the impact large corporations and hedge funds have had on Southern Nevada’s rental market, noting that the top 10 apartment owners in Nevada own 26 percent of all rental units in the state.