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The Culinary Union launched a ballot initiative on Wednesday to cap rent increases in North Las Vegas, following what leaders described as unrelenting price hikes and wage stagnation in Southern Nevada. 

The proposal would tie maximum rent increases to North Las Vegas’ Consumer Price Index (CPI) with a stipulation that rent increases could not exceed 5 percent year-over-year. Under the proposal, landlords would not be able to increase the rent for a rental unit during the first year after the tenancy begins, and at any time after the first year without giving a tenant written notice at least 90 days before the rent increase goes into effect. 

The initiative is a North Las Vegas-based ordinance effort and therefore will not go before other residents of Southern Nevada if it qualifies for the ballot. It marks at least the seventh initiative from across the U.S. proposing implementing or expanding rent control measures so far this year — and the first organized effort to do so in Nevada since the 1970s.

"Corporate interests are raising rents through the roof. It is price-gouging, clearly, and we are going to do something about it,” said Secretary-Treasurer for Culinary Union Ted Pappageorge during the announcement of the ordinance, noting that the effort is aimed at curbing the power of private equity and hedge funds buying homes in Southern Nevada and across the Sunbelt.