Commercial Real Estate Survey Predicts ‘Moderate Growth’
Yesterday, the Winter/Spring 2018 Allen Matkins/UCLA Forecast California Commercial Real Estate Survey was released. The results show participants believe the recent federal tax overhaul will cause favorable changes to the commercial real estate market, including an increase in the rate of return and moderate, though uneven, growth.
Long Beach Receives $8M To Combat Homelessness
The U.S. Department of Housing and Urban Development (HUD) awarded the City of Long Beach more than $8.1 million to provide services and housing for those experiencing homelessness, according to a city press release today. The services are provided through the Long Beach Continuum of Care, with the Long Beach Department of Health and Human Services as the lead agency.
State Rainy-Day Fund Almost Full
California is on pace to fill its rainy-day fund, a reserves account created by voter approval in 2014, to the tune of $13.5 billion by July 1, 2019, according to a report by The Sacramento Bee. The story indicates the reserve could be filled sooner, given that the fund can only hold up to 10% of the state’s general fund revenue. Once the fund is full, any additional monies must be spent on infrastructure. This has left the state legislature to consider spending money on other priorities before filling the reserve.
California Trucking Association Applauds Ruling Against California Air Resources Board
A California State Appeals Court has ruled against the California Air Resources Board (CARB) in a suit brought by the California Trucking Association (CTA) and John Lawson Rock and Oil. The entities sued CARB in 2016 over the board’s decision to delay emissions rules for smaller trucking firms, arguing that the action was a violation of the Administrative Procedures Act and the California Environmental Quality Act. “The appellate court’s decision is a significant victory for CTA and compliant truck fleets of all sizes who spent millions to comply with CARB’s 2008 Truck and Bus Rule only to have the rules of the game changed midway through,” CTA CEO Shawn Yadon stated in a press release. “The so-called grace period put compliant fleets at a financial and competitive disadvantage to those that, year after year, dragged their feet or refused to comply with the rule.”
Bixby Knolls Honors Black History Month
“Forgotten Images: Yesterday, Today & Tomorrow,” a free Black History Month exhibit, is showing today through February 3 at the Expo Arts Center, 4321 Atlantic Ave. The event includes the staging of a play, “Lady Patriot,” which tells the story of a freed slave whose intelligence work contributed to the demise of the Confederacy. Tomorrow night, the Expo Arts Center is hosting an event celebrating Mardi Gras and Black History Month from 6:30-9:30 p.m. Click here for more information.