CALIFORNIA COMMERCIAL REAL ESTATE SUMMIT; SUCCESS!

This week the annual California Commercial Real Estate Summit (CCRES) was held in Sacramento and attended by over 100 real estate leaders who converged on California’s Capitol to advocate on behalf of the commercial, retail, and industrial real estate industry.  Fifteen teams of real estate advocates met with half of the state Legislature to talk about split roll property tax, building liens, and electric vehicle charging station legislation.

 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/parcel tax.  Reports back from those who met with Legislators ranged from support of Proposition 13, to vague understanding of its provisions, to downright hostility.  Our job was to explain 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.  We also tried to explain how the state’s stable tax structure benefits our tenants and the state’s small businesses.

 The goal of the California Commercial Real Estate Summit is to increase public policy and political awareness of state issues impacting commercial, industrial, and retail real estate, and to foster collaborative efforts among business leaders from all sectors of California and their representatives in the State Legislature.

 We would like to thank all of our Members who took the time to attend the CCRES!

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