BOMA CALIFORNIA Weekly Update- November 19, 2021

REX HIME SET TO STEP ASIDE In case you missed it, after almost four decades leading the commercial real estate industry in California, Rex Hime will step aside. California Business Properties Association (CBPA) Board Chair Joe Markling announced earlier this month that Rex S. Hime is stepping aside from his longstanding role as President & CEO of CBPA and taking on the role as Senior Advisor to CBPA, effective at the end of 2021. Hime has a 37-year history of service to the Commercial Real Estate industry. Matthew Hargrove, CBPA’s Senior Vice President of Governmental Affairs, will succeed Hime as President and CEO. “Rex has done more to unite this industry and advance its causes than any other advocate in commercial real estate in the country,” said Joe Markling, Chair of California Business Properties’ Board of Directors and Managing Director Head of Real Estate Operations at USAA Real Estate, “Our causes are personal to Rex. He’s earned the right to slow down a bit. We are delighted to know that he will remain as a part of our executive team leadership.” Hime began his career at CBPA in 1984 and has been the voice for the commercial real estate industry for almost four decades. During that time, he led the growth of CBPA from less than 100 members to an organization representing over 10,000 companies. Under Hime’s leadership CBPA became the only commercial real estate association in the nation representing all aspects of the retail office industrial commercial real estate industry, bringing together the national organizations of International Conference of Shopping Centers (ICSC), National Association of Industrial Office Parks (NAIOP), Building Owners and Managers Association (BOMA) and the Institute of Real Estate Management (IREM) to speak with one voice. To read the full press release on Rex’s announcement, click here.   HAPPY THANKSGIVING CBPA would like to wish all of you a very Happy Thanksgiving and hope you get some time off. California is a great state, we live in a wonderful country, and we have a lot to be thankful for. We hope you get to spend some quality time with loved ones next week! Please take a moment to reflect and thank the men and women in uniform who are serving our country overseas away from their families at this time and be sure to protect yourself and loved ones from COVID. Have fun and relax but be smart about it!   WEEKLY ALERT ON HIATUS Please note, the Weekly Alert will be on hiatus from now until the new year. But don’t worry, if anything major happens, we’ll be sure to let you know. We will return from our short-hibernation on to our regular schedule on Friday, January 7, to bring you all the news, gossip, and inside-information from Sacramento. Also, we do need our rest as 2022 is going to be a very busy year battling all the crazy bills and regulatory proposals coming out of Sacramento! In the meantime, if you have any questions, comments, or need information, please email Matthew Hargrove .   BILL IDEAS FOR 2022 – “THERE OUTTA BE A LAW!” Last call for bill ideas! Before the Legislature reconvenes in January, we need your ideas on proactive changes to the law that our industry should consider pursuing. Are there issues in statute that could be made better, more efficacious? Something not addressed in statute that should be fixed? Let us know so we can do the needed research and work with authors to get a bill introduced by the appropriate deadlines.   STRATEGIC ISSUES CONFERENCE – ALMOST SOLD OUT! The 2021 Strategic Issues Conference just 2 weeks away, and the hotel is almost at capacity, however there is still time to register for this major confab on December 2 and 3! Several statewide business groups have come together to host this event, that you don’t want to miss! California Business Properties Association (CBPA), American Council for Engineering Companies (ACEC), Building Owners and Managers of California (BOMA CAL), California Alliance for Jobs (CAJ), California Building Industry Association (CBIA), California Business Roundtable (CBRT), California Manufacturers & Technology Association (CMTA), California Retailers Association (CRA), invite you to attend one of the premier California policy gatherings, 2021 Strategic Issues Conference. REGISTER HERE December 2-3, 2021 Embassy Suites by Hilton Napa Valley 1075 California Boulevard, Napa, CA To help you with logistics here is a full listing of events and meetings: THURSDAY, DECEMBER 2, 2021 5:30 p.m. Wine Tasting Kick-off Reception 6:30 p.m. Dinner & Housing in California Dan Dunmoyer – Moderator, President & CEO, CBIA Assemblymember Tim Grayson – (D – Concord) Assemblymember Robert Rivas – (D – Salinas) FRIDAY, DECEMBER 3, 2021 8:00 a.m. Breakfast & 2022 Election & Statewide Politics Rob Lapsley – Moderator, President of CBRT Kelly Caklin – I Street Public Affairs Matt Rexroad – Chief Legal Counsel, Redistricting Insights Anthony Russo – Partner, Russo McCarthy & Associates 9:30 a.m. California’s Response to the Drought Michael Quigley – Moderator, Executive Director, CAJ Dave Eggerton – Executive Director, ACWA 10:30 a.m. Storm Water Runoff Michael Quigley – Moderator, Executive Director for CAJ Christine Williams – Environmental Manager, Granite Construction Cliff Moriyama – Founder, Cliff Moriyama Consulting Dave Mercier – Engineer and Department Manager, Michael Baker Intl. 11:15 a.m. How Crime Affects California Rachel Michelin – Moderator, President of CRA Ann Marie Schubert – Sacramento County District Attorney 12:00 p.m. Lunch and Goods Movement & Supply Chain Rachel Michelin – Moderator, President of CRA Dee Dee Myers – Senior Advisor to Governor Newsom, Director of the Governor’s Office of Business and Economic Development Fran Inman – California Transportation Commission, Senior Vice President, Majestic Realty 1:30 p.m.  Conference Conclusion   EXPECTED BUDGET SURPLUS FOR 2022-23 On Wednesday the LAO announced another expected budget surplus for California to allocate in the 2022-23 fiscal year of $31 billion. The LAO also looked at the possibility for new and ongoing commitments including tax reductions and spending increases and concluded that the budget would have the capacity to do so. Despite the ongoing COVID pandemic and the ripple effect on our economy, the state’s budget seems to be able to continue to address issues through more allocation of funds this upcoming year. Some of the reasons for this surplus are higher than expected revenue through growing tax collections paired with lower than anticipated spending. Senate and Assembly Leadership released statements on the budget surplus with stated intention. Senate President pro Tempore Toni Atkins was quoted “But as economically wealthy as our state is, we see every day that too many have been left behind and too many families struggle just to get by.  The Fiscal Outlook provides valuable guidance to the Senate’s ongoing budget work to craft transformative priorities that put California’s wealth to work building a more equitable economy and a stronger middle class.” Speaker Rendon also chimed in echoing those ideas, “California made real progress in the historic 2021 budget. The Assembly will focus on making sure these recently funded initiatives are working in the coming months. In 2022, we plan additional, important investments – especially one-time investments allowed under the Gann Limit – to benefit all our communities. The record level of school funding for the next budget year also creates unprecedented opportunities to help communities build back from the pandemic and encourage engagement by students, parents, and teachers in every part of California.” President & CEO, Rex Hime commented on the expected budget surplus, “This potential surplus should be used not to further political or social agendas rather we should be addressing issues such as the substantial deficit in the Unemployment Insurance Fund and pay that down to prevent the tax increase that would fall on employers. Then let’s do the unthinkable and either return the monies to taxpayers or reduce the gas tax.”
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