Measure V, Mountain View’s polarizing rent control policy, may soon undergo an overhaul if a coalition of local landlords has its way.

Representatives of Measure V Too Costly filed The Mountain View Homeowner, Renter and Taxpayer Protection Initiative Friday, an effort to modify Measure V provisions they claim are overly restrictive and merely serve to subsidize housing for the wealthy at the expense of those in need. Within 15 days, the city attorney will draft a summary of the proposal, and proponents must collect at least 5,500 signatures – 15 percent of registered Mountain View voters – to earn the initiative a spot on the November ballot. It would require a majority vote to pass.

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