CBPA's PAC achieved substantial success in California's 2024 elections, securing 21 wins out of 27 supported candidates across Assembly and Senate races. This year, CBPA engaged at a higher level with more candidates and issues than ever before, aside from the 2020 campaign against Prop. 15 (Split Roll). This cycle represents the largest financial commitment CBPA has made to support candidates.

The main takeaways from this election are twofold. First, CBPA’s investment in propositions saw complete success: CBPA went 4 for 4, with every supported initiative passing. Of particular note, Proposition 36 (Retail Theft), a top priority for CBPA, passed with an overwhelming majority.

CBPA held its Annual Meeting last Thursday at the architecturally impressive Orange County Museum of Art in conjunction with the 2024 CBPA Industry Awards in Costa Mesa. Attendees received a warm welcome from the museum's leadership, as well as Orange County Business Council CEO Jeff Ball. A special presentation covering election results from Matt McGarty of Russo McGarty & Associates followed.

The primary business of the Annual Meeting ensued - electing the CBPA board of directors for the following year. You can view your newly elected board members here. Many thanks are due to our dedicated board of directors who keep our industry moving forward.

The 2024 legislative session led to numerous new laws impacting the commercial real estate industry. CBPA has created fact sheets to help keep you informed on new laws. These legislative summaries include:

• AB 98 - Warehouse Development Restrictions
• SB 1103 - Commercial Lease Mandates
• AB 2364 - Janitorial Regulations
• AB 2904 - Industry Sponsored Zoning Notice Bill
• And more!

While these summaries outline the significant provisions and implications of the new laws, it is not intended to serve as legal advice. Members are encouraged to consult with legal counsel for specific guidance on compliance on new laws.

A recent Sacramento Bee article highlighted the difficulty and expense of transitioning office buildings to housing. California’s plan to convert state-owned buildings on Sacramento’s Capitol Mall into affordable housing hit a roadblock when the private developer withdrew. The developer raised concerns about the adaptive reuse plan, which aimed to retain the buildings’ structure while renovating interiors for residential and commercial use. Without state funding for a pre-development study, the developer didn’t want to risk high out-of-pocket costs. Now, the Department of General Services is exploring other options. Adaptive reuse remains a key issue for our industry, though as this example highlights, it is not often a practical solution.