5.A. ADOPTION OF A RESOLUTION SETTING FORTH POLICY TO PROHIBIT THE CITY OF WEST HOLLYWOOD FROM USING THE ELLIS ACT ON CITY-OWNED RESIDENTIAL PROPERTIES [L. LANGER]: SUBJECT: The City Council directed staff to develop a City policy restricting the City from utilizing the Ellis Act to remove units from the housing market in residential properties acquired by the City, thereby displacing tenants. Staff has developed said policy as reflected in the attached proposed resolution for the City Council's consideration and adoption.