Recently, the annual California Commercial Real Estate Summit (CCRES) was held in Sacramento and attended by over 90 real estate leaders who converged on California’s Capitol to advocate on behalf of the commercial, retail, and industrial real estate industry. Fourteen teams of advocates met with many members of the California State Legislature.
The focus of this year’s CCRES was support for Proposition 13 and opposition to moving forward with proposals to allow a split roll property tax and/or removal of protections provided by the 2/3s vote requirement for parcel taxes. Reports back from BOMA San Francisco members and others who met with Legislators ranged from support of Proposition 13, to vague understanding of its provisions, to strict opposition. BOMA members explained the day-to-day realities of the real estate industry and how protections from unfettered property tax increases has meant the difference between success and failure. Members also elucidated how the state’s stable tax structure benefits our tenants and the state’s small businesses.
In addition, the 2013 Legislator of the year award was delivered to the following policymakers: Assemblymember Nora Campos (D-San Jose), Assemblymember Tom Daly (D-Anaheim), and Senator Mark Wyland (R-Escondido).
CCRES delegates also heard from a wide range of speakers including State Controller John Chiang (D), the Governor’s top staffer Nancy McFadden, Executive Secretary for Legislation, Appointments and Policy, and Kish Rajan who is the director of the Governor’s Office of Business and Economic Development.
Thank you to the BOMA San Francisco members who attended the summit.