The legislature is back from its summer recess, and the fate of the remaining legislation will be determined in the next four weeks.
While we are following numerous bills, two stand out as particularly damaging for our industry: AB 2354 and SB 1103.
The Revitalizing Downtowns and Main Streets Act (RDMA), introduced by Representatives Jimmy Gomez (CA-34) and Mike Carey (OH-15), aims to solve two problems: empty commercial spaces and the housing shortage.
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Last week BOMA/GLA hosted a Property Technology seminar titled “Future-Proofing Your Property: Budgeting for PropTech Advancements in 2025 and Beyond.” The turnout was fantastic, with CRE professionals engaging in lively discussions about the challenges and opportunities in property technology.
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We’re excited to announce that the 2024 Operating Benchmark Report is now available! For the second year in a row, taxes and insurance are the top building expenses.
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Los Angeles city officials have recommended fast-tracking the Los Angeles Convention Center expansion to be completed before the 2028 Summer Olympics.
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The Los Angeles Metro board has unanimously voted to create its own transit law enforcement agency.
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Assembly Bill 2433 would have helped speed up the plan check process for many projects. After passing the Assembly, the bill was held in the Senate Local Government Committee before being withdrawn by the author.
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Californians will face 10 statewide propositions on the November 2024 ballot. The propositions cover topics from education and climate change to criminal justice reform and rent control. Other proposed ballot measures either did not secure enough signatures or were removed through negotiation or court order. What remains will still have an impact on our industry and beyond.
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The Los Angeles County Board of Supervisors has approved creating an ordinance, that if approved by voters it would increase the number of supervisors from five to nine. Each supervisor currently represents about 2 million people. The expansion would reduce this to about 1 million per district.
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The Los Angeles County Board of Supervisors has unanimously passed a motion to analyze commercial rents in the county.
Its motion would also explore new regulations for those who lease to small businesses and non-profits.
This motion is a first step toward more interference in commercial leasing. And it will further burden an industry that is still trying to recover.
Opinions expressed in this article are those of the author and do not necessarily represent the positions of BOMA Greater Los Angeles. For media inquiries and questions about BOMA/GLA's policy positions, please email [email protected]. You can also find additional information about our policy positions on our website.