SACRAMENTO, CA – Today, California Business Properties Association (CBPA) announced its endorsement of Proposition 1, the $6.38 billion bond initiative spearheaded by Governor Newsom aimed at constructing 10,000 new community behavioral health facilities and residences. These efforts seek to provide housing and aid individuals of all age groups in California coping with severe mental health conditions and substance use disorders.
“Proposition 1 is a step in the right direction towards solving one of our state’s biggest challenges,” said Matthew Hargrove, President and CEO of California Business Properties Association. “It’s a complex problem that will require a multi-faceted approach in order to provide critical resources to those in need and enhance the overall well-being and prosperity of our state,” Hargrove continued.
Proposition 1 would mark the first major overhaul of California’s community mental health system in two decades should it pass. A commitment to transparency and accountability has been embedded into the measure to ensure current and future funds designated for addressing homelessness are utilized for their intended purpose and not diverted elsewhere.
In addition to the nearly $6.4 billion bond initiative, the measure requests voters to reconsider the allocation of funds from a current tax, dedicating a portion of it towards housing for individuals dealing with behavioral health conditions.
Homelessness has increasingly affected the business community across the state, leading to a rise in incidents of crime and violence, adding further challenges to a state with an already arduous business climate.
“It’s crucial for the business community to come together to work with elected leaders and aligned organizations to find solutions to address this growing problem that impacts the livelihood of Californians, their businesses, and their communities,” Hargrove added.
Proposition 1 will appear on the March 2024 ballot.
Established in 1972, CBPA proudly serves as the legislative and regulatory advocate for property owners, tenants, developers, retailers, contractors, land use attorneys, brokers, and other professionals in the commercial real estate industry representing their legislative and regulatory interests in California’s Capital and in Washington, D.C.
CBPA is the largest commercial real estate consortium with over 10,000 industry members and is the designated legislative advocate for ICSC, the California Chapters of the Commercial Real Estate Development Association (NAIOP Cal), the Building Owners and Managers Association of California (BOMA Cal), the Retail Industry Leaders Association (RILA), and the Association of Commercial Real Estate – Northern and Southern California (ACRE), and AIR CRE.