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BOMA/GLA Acts Early on LA County’s “Soft Rent Control” Proposal

When a policy could impact commercial real estate, BOMA/GLA works to make sure our industry’s voice is heard before decisions are made. The Los Angeles County Board of Supervisors is considering a new Commercial Tenant Protections Motion that could function as a form of “soft rent control” for commercial properties. As written, the proposal could create new licensing and reporting requirements, restrict rent increases in certain circumstances, require relocation payments, and add hurdles for redevelopment projects.

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New Culver City Parcel Tax Measure Heads to November Ballot

Culver City

The Culver City City Council has voted to place a new parcel tax measure to support public schools on the November ballot. If approved by voters, it could significantly increase costs for commercial property owners. The measure would apply a $0.48 per building square foot annual parcel tax on all real estate parcels, including commercial properties, for the next 10 years.

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What Los Angeles’ ULA Decision Means

Split Roll tax

On July 1, the Los Angeles City Council voted unanimously to remove a proposed ballot measure that would have temporarily exempted newly constructed multifamily and mixed-use residential projects from Measure ULA during their first ten years. As a result, there will be no Measure ULA reform measure before voters this November.

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Long Beach & South Bay CRE News Roundup

Long Beach and the South Bay continue to be important centers for commercial real estate, investment, and business growth. Recent local government actions focused on housing, parking, economic development, transportation, and long-term planning efforts could affect property owners, tenants, and future investment.

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