BOMA PAC's SIP, SUPPORT & SOCIALIZE EVENT A BIG WIN! ADVOCACY FOR OUR INDUSTRY GAINS MOMENTUM |
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Our Government Affairs Committee hosted the Annual Sip, Support & Socialize Event at The MET on Thursday, September 16 to support our sister organization, BOMA PAC.
Over 300 attendees enjoyed live music and a variety of wines and beer under a perfect evening sky. We were honored to be joined by over a dozen legislatures, who had a chance to voice their interest in and advocacy for the commercial real estate industry.
We heard from both sides of the aisle regarding how they view our industry, and the ways in which they are advocating for our sustained growth while limiting regulation.
The party continued into the evening, complete with a photo booth, desserts galore and an after party that some say is still going.
A special thank you to all legislators in attendance, our sponsors, and all those supporting BOMA PAC! It is each of you that makes the difference!
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DO YOU KNOW AN OUTSTANDING COMMERCIAL REAL ESTATE PROFESSIONAL? NOMINATE THEM TODAY! |
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Our call for nominations is now open. The BOMA OC Awards of Excellence recognizes outstanding commercial real estate professionals who have demonstrated both exceptional standards and commitment to their work as well as a dedication to advancing the industry.
Whether it's someone within your company or someone you've worked with at BOMAOC, they deserve recognition if they strive for excellence. Nominate them today!
Nominations are due October 15th.
The top three nominees per category will be announced at Noon on October 19th.
Awards are presented in these categories:
Principal Member of the Year
Allied Member of the Year
Rising Star of the Year
Engineer of the Year
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October 12 8:30am to 5:00pm
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October 19 8:00am to 10:00am
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October 21 5:30 to 8:30pm
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November 12 6:00pm to 11:30pm
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Philanthropy Committee Holiday Lights Event: 12/9
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CALL FOR APPLICANTS! CAROL ANN POWELL MEMORIAL SCHOLARSHIP |
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In 1995, the Carol Ann Powell Scholarship was established by her dear friend Peggy Sanchez. This scholarship was created to keep Carol’s spirit alive in BOMA, and to pass along to others her involvement in BOMA. Carol epitomized the best of BOMA; she was friendly, caring, cheerful and supportive. She was always there when BOMA needed a volunteer; she served on every committee and in every office of the Association Board. She loved BOMA and we continue to honor Carol Ann Powell with this scholarship in her name.
The Carol Ann Powell Scholarship is designed to assist persons who are interested in furthering their knowledge and education in property management and provides them with $1,000 to use towards their choice of programs such as BOMI classes for the Real Property Administrator or RPA, Property Administrator Certificate or PAC, High-Performance or HP Certificate, any BOMA OC luncheons or educational programs and even the BOMA International Conference.
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EDUCATION EVENTS & COURSES |
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TRIVIA NIGHT RETURNS WITH RECORD ATTENDANCE! |
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After a year hiatus, Trivia Night was back and bigger than ever in 2021! The Young Leaders event delivered with a record attendance of well over 100 people.
The Fountain Court at Park Place, with its serene waterfall and expansive area, was the perfect setting to relax and catch up with friends and colleagues
Teams of Eight fueled their minds with artisan street tacos and craft beers, kicking off some spirited competition over 90 minutes before a winner was declared!
Thank you to our event sponsors and all those who attended! What a fun evening!
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ON THE MENU: BACK TO BUSINESS - WHAT COULD GO WRONG? |
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On September 14th the Education Committee hosted the On The Menu Webinar 'Back to Business - What Could Go Wrong?' to discuss the different ways companies are approaching the return to the office, or maybe they never left!
Distinguished panelists Peggy Rowland Sanchez, Stacy Nishioka and Amos Bracero covered topics ranging from rent relief and physical occupancy to the continued learning and pivoting that's required every day. Moderated by committee co-chair Gary Bittner, the group covered a range of topics from Los Angeles offices that remain mostly virtual, to Orange County offices that are filling up again, to Hoag Hospital, which of course never closed!
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NEW MEMBERS LEARN ABOUT ALL ABOUT BOMA OC! |
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On September 15th our Membership Committee Co-Chairs Joel Feeser & Travis Slunaker welcomed BOMA OC's newest members into the fold!
It was an hour packed full of information on what BOMA is and how the new members can get involved! Each Committee Chair spoke a little about what their groups' focuses are, and even had a fun raffle at the end!
Thank you to all who attended! If you missed it, it's not too late! Click HERE to view. |
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BOMA PAC - OPPOSE AB 1395 GREENHOUSE GAS MANDATE |
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Join us in STOPPING AB 1395, a proposed bill that, if passed, will lead to a cart-before-the-horse scenario. Passage of this bill will allow Sacramento free reign to decide how you operate your buildings.
This bill would require a 95% reduction in California's greenhouse gas emissions goal, but has no realistic framework on how it can be achieved. This means a goal will be adopted and then state agencies will be given power to every aspect of how you build, maintain, and manage your property.
Retweet THIS to let legislators know we stand firm against this bill!
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SPLIT ROLL MEASURE SUBMITTED TO CALIFORNIA AG OFFICE! |
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A new split roll measure is being proposed that would dramatically impact multi-family properties.
Although the new proposal is still basically a split-roll property tax idea that blows-up Proposition 13, this new proposal is dramatically different from the version we defeated last year.
To qualify for the November 2022 ballot, after the AG prepares the title and Summary, proponents will have until late April 2022 to gather signatures.
Here is the quick summary:
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Preliminary title as submitted by the proponents: “Housing Affordability and Tax Cut Act of 2022”
Creates a split-roll property tax on all commercial, residential, mixed-use and industrial properties (with certain exceptions) with a full cash value of more than $4 million. Properties with a value of more than $5 million will be assessed a “surcharge” of no less than 1.2 percent and no more than 1.4 percent of the full cash value of the property. Properties with a value of between $4 million and $5 million will also be assessed a surcharge of 1.2 percent divided by $ 1 million multiplied by the full cash value of the property minus $4 million.
The revenue from this split-roll property tax increase will go to fund increases in both the homeowners’ property tax exemption and renters’ tax credit. The homeowners’ property tax exemption will increase from $7,000 to $200,000, increasing the property tax savings from $70 per year to a maximum of $2,000. The nonrefundable renter’s tax credit will increase from $60 for individual and $120 for joint filers to $1,000 or $2,000, respectively.
In addition, the measure seeks to remove barriers to development of affordable housing by allowing ministerial approval of housing developments that meet criteria outlined in the measure.
Policy Summary
A NEW SPLIT-ROLL PROPERTY TAX:
- For properties with a full cash value of $5 million or more, an annual surcharge of 1.2% is applied as a property tax surcharge. This rate can increase to as much as 1.4% if additional funding is needed to reimburse local governments for lost revenue from the homeowners’ property tax exemption and renter’s tax credit.
- For properties with a full cash value of between $4 and $5 million, an annual surcharge will be imposed according to the following equation:(1.2% (up to 1.4%))/($1 million) x (full cash value-$4 million)
- The surcharge cannot be passed onto tenants.
- Covered properties include:
- Commercial, residential, industrial, mixed-use and vacant land with a full cash value of more than $4 million;
- Parcels where one portion of a single residence or commercial structure has a full cash value of more than $4 million;
- Parcels created by subdividing another parcel for purpose of avoiding the surcharge.
- Covered properties exclude:
- Commercial agriculture;
- Parcels where the full cash value divided by the number of owner-occupied households is $4 million or less;
- Parcels with utilities and transport subject to state assessment;
- Deed-restricted low-income housing;
- Vacant land used for open space or a park.
Click here to read the full text of the proposed initiative.
Stay tuned for more information as we receive it.
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CAREER CENTER 2.0 IS MORE POWERFUL THAN EVER! |
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Take control of your career path! Find that next high potential candidate! All this and more is available at our new Career Center 2.0
Post your resume, Search for candidates, post a job opening and more. Register for free today to begin taking charge of your future!
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BOMA Orange County | www.bomaoc.org
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