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CBPA is the recognized voice of all aspects of the commercial retail industrial real estate industry in California — representing the largest commercial real estate consortium with over 10,000 industry members.
CBPA is the designated legislative advocate for the International Council of Shopping Centers (ICSC), the California Chapters of the Commercial Real Estate Development Association (NAIOP), the Building Owners and Managers Association of California (BOMA), the Retail Industry Leaders Association (RILA), the Institute of Real Estate Management (IREM), and the Association of Commercial Real Estate – Northern and Southern California (ACRE) the National Association of Real Estate Investment Trusts (Nareit), AIR Commercial Real Estate Association (AIR CRE), and the California Association for Local Economic Development (CALED).
CBPA is a coalition of the Leading companies and professional associations in the commercial, industrial, and retail real estate sector.
President and Chief Executive Officer, REX S. HIME (bio) gave us an overview on legislation and ballot initiatives pending this year. Click here for a listing of the Executive Board. For information on the impact scroll down the page and read excerpts from some of the fact sheets from CBPA. Click here to view their presentation.
Here is the link to the story about Married CA Dem Asm. Phil Ting Used Woman He Met on “Sugar Daddy” Site to Testify for His LegislationTing impersonating another Legislator.
Hits Minority-, Immigrant- and Female-Owned Businesses the Hardest
• Small businesses are already struggling. This measure will make it even more difficult for them to reopen their doors or stay in business as a result of this economic crisis. Increasing property taxes on businesses by up to $12.5 billion a year will hurt female- and minority-owned businesses the most and 120,000 jobs will be lost, according to a Berkeley Research Group study. Voters are being asked to consider a measure that will only increase job losses at a time when millions of Californians are applying for unemployment benefits.
• According to the latest data from the Harvard Business School, about 42% of new companies are founded by immigrants in California and the most recent 2012 Survey of Business Owners by the Census bureau found that 5% of businesses in the state are owned by African Americans. Additionally, the California Latino Economic Institute found that nearly one-quarter of all businesses in California are owned by Latinos, and they are the fastest-growing component of the state’s economy. Most of these businesses start small and stay small, meaning they often rent their property and are subject to higher rents when property taxes increase.
• In the most recent 2012 Survey of Business Owners by the Census Bureau, 38% of all non-publicly traded businesses were owned by females and another 9% were owned equally by females and males.
Homeowners Are Under Attack
• Homeownership is the primary path to building wealth and upward income mobility for low- and moderate-income families. A 2007 Survey of Consumer Finances shows nationally that principal residences constituted 54% of all household wealth for African-Americans and 52.5% for Latinos.
• If businesses lose their Prop 13 protections, homeowners will be next. Supporters of the measure even admitted that this initiative was the first step in a
How Will The Split-Roll Property Tax Measure Hurt Farmers?
• The split-roll measure will remove Prop 13’s protections for California farmers, triggering annual reassessments at market value for agriculture-related fixtures and improvements, including barns, dairies, processing plants, wineries and even mature fruit and nut trees and vineyards.
• Higher property taxes will hurt farmers who are subject to federal price controls on products at a time when our state’s food supply is especially critical. For example, California dairies will be at a disadvantage compared to their competitors in other states, forcing more in-state dairy farms to close and leading to fewer choices and higher costs for consumers.