Financial
Mayor Signs LA Budget: More LAPD Recruits, But Service Cuts Remain
Mayor Karen Bass signed the budget on Friday and announced a deal with the City Council to bring back LAPD hiring.
Read MoreLearning About the Importance of Property TechnologyÂ
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.
Read More2024 Operating Benchmark Report is Now AvailableÂ
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.
Read MoreBenchmark Report Survey Deadline Extended!
The Operating Benchmark Report survey deadline is extended to June 21st.
This comprehensive survey covers various operating expenses, such as utilities, maintenance, insurance, and taxes.
Read MoreLA Budget Impacts on CRE
Los Angeles Mayor Karen Bass and the City Council recently approved a $12.8 billion budget for the 2024-2025 fiscal year. Budget cuts affecting staffing might lead to delays in permitting and inspections for commercial real estate projects, which could also affect security measures.
Read MoreCalifornia Legislature Releases Joint Budget
Leaders from both California legislative chambers have introduced a joint budget prior to the July 1st deadline.
Read MoreParticipate in BOMA/GLA’s Operating Benchmark Report Survey!
We have launched a new survey to gather information that will provide valuable insights for building owners and managers. The Operating Benchmark Report will show the average costs for running a commercial property in Greater LA.
The report is a comprehensive survey that covers a wide range of operating expenses, such as utilities, maintenance, insurance, and taxes.
It will provide invaluable data to property owners and managers. But only if you participate!
Governor Newsom Releases 2023-2024 Budget Featuring $22.5 billion Deficit
After years of historic budget surpluses, California is preparing for a multi-billion-dollar budget deficit for 2023.
Earlier this week, Governor Newsom outlined budget cuts needed to tackle the $22.5 billion dollar deficit.
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