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J. Required Findings in Fair Return Decision: Any Rent adjustment decision pursuant to <br />this Article that approves a fair return rent increase shall include a determination that <br />the Park Owner would be denied a fair return according to the method in this chapter <br />and shall include findings made of the following: <br /> <br />1. Base Year and prior year rental income; <br /> <br />2. Base Year and prior year operating expenses by category; <br /> <br />3. Base Year and prior year overall operating expenses; <br /> <br />4. Base Year and prior year net operating income; <br /> <br />5. The percentage change in net operating income between the Base Year and the prior <br />year; <br /> <br />6. The percentage change in the CPI between the Base Year and prior year; <br /> <br />7. The ratio of the percentage change in net operating income to the percentage change <br />in the CPI between the Base Year and prior year; <br /> <br />8. The rent adjustment required under the MNOI standard, if applicable to the <br />application. <br /> <br />K. Conditions for Allowance or Disallowance of Rent Increase: The allowance or disallowance <br />of any proposed Rent Increase (or decrease) or portion thereof may be reasonably conditioned <br />in any manner necessary to effectuate the purposes of this Article. <br /> <br />L. Representation of Parties: <br /> <br />1. Each party may be represented by any person of its choosing. The representative <br />need not be an attorney. <br /> <br />2. Written designation of representatives shall be filed with the Rent Review Officer or <br />Hearing Officer. <br /> <br />3. The written designation of the representative shall include a statement that the <br />representative is authorized to bind the party to any stipulation, decision or other <br />action taken by the Rent Review Officer or Hearing Officer. <br /> <br />M. Overall Period for Review of Application. Except as otherwise provided in this Article, a <br />decision on an application for Rent adjustment made pursuant to this Article shall be made <br />within 120 days after the application is deemed complete, unless extended by the Rent Review <br />Officer or Hearing Officer for good cause. <br /> <br />N. Standard of Review. The applicant shall bear the burden of proof, by a preponderance of <br />the evidence, on all issues necessary to the granting of the petitioner’s petition, both at <br />the Rent Review Officer and Hearing Officer levels of review. <br /> <br />[4-39-227] Appeal of the Rent Review Officer’s Decision. <br />