Legislation
Victory Alert: AB 2840, A Job Killer for the Warehouse Industry, Shelved for 2022
A bill that would target warehouse and logistic centers has passed the California State Assembly and will soon be considered by the State Senate. In short, this bill (Assembly Bill 2840) would ban many new warehouse/logistics facilities in Southern California…
Read MoreNew Santa Monica Real Estate Tax Initiative
Santa Monica voters should expect a Real Estate Transfer Tax initiative on their ballots this fall. If passed, it would raise the transfer tax rate from 0.6% to 5.6% for properties transferred at $8 million or more.
This tax will significantly impact both commercial and residential properties and their tenants.
New Tax Measure Coming to Culver City
On June 13th, the Culver City City Council decided against adding a parcel tax to the November ballot. However, they will proceed with a Business License Tax ballot measure.
Read MoreNo New West Hollywood Vacancy Tax for Now
In a victory for property owners, West Hollywood will not be placing a vacancy tax measure on the November 2022 ballot. Instead, in a 3-2 vote on June 6th, the West Hollywood City Council decided to move the discussion of the ballot measure to March 2023.
Read MoreLos Angeles Invests in Preventing Homelessness and Public Safety in 2022-23 Budget
After the City Council approved Los Angeles’ budget for the 2021-2022 fiscal year, Mayor Eric Garcetti Wednesday officially signed the budget into law, setting the City on a course towards recovery after a period of fiscal …
Read MoreEric Garcetti Nomination as Ambassador to India Slowly Advances
Los Angeles Mayor Eric Garcetti, who was selected by President Joe Biden as envoy to India, is finally expected to undergo nomination by the U.S. Senate. Concerning Los Angeles, this situation raises uncertainty about who would lead the city for the remainder of the year. This comes after Senator Chuck Grassley stated that he would …
Read MoreCEQA Reform Will Help the Housing Crisis
The balance between protecting the environment and addressing the mounting housing crisis becomes more difficult to manage as time goes by. The California Environmental Quality Act (CEQA) remains a controversial way to address both issues.
Read MoreSouthern California Braces for More Unprecedented Water Cuts
After months of poor weather and climate, Southern California is set to experience some of the state’s worst water restrictions. Unfortunately, the region’s water supply isn’t expected to get better anytime soon. According to NOAA’s weekly report the US Drought Monitor, 93% of California is experiencing a severe drought. Additionally, 35% is currently in extreme …
Read MoreLos Angeles County Pushes for a Housing First Position on Homelessness
On Tuesday, the Los Angeles County Board of Supervisors moved to declare the County as supporting a ‘housing first’ approach to the homelessness crisis. According to the motion, a housing first approach is defined as a “model and approach recognizing that an unhoused person or family must …
Read MoreBOMA California Outlines State Legislative Priorities for CRE
Though businesses are well into a full post-COVID economy, commercial, industrial, and retail real estate organizations are all still facing a number of state legislative challenges this season. From development to other increased costs of operation, a number of policies can make a significant impact …
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