What's Happening in Your Region

Regional news & updates

April | 2025

As we head into the thick of California’s legislative cycle our team has been actively engaged with our state partner BOMA/CAL on key legislation: opposing Vacancy taxes like SB 789 (Sen. Menjivar), Commercial real estate rent control AB 380 (Asm. Gonzalez) and supporting legislation like the Hollywood Film Tax Credit Bills (SB 630 and AB 1138 from Sen. Ben Allen and Asm. Zbur and Bryan) and AB 698 (Asm. Wicks) which would require a city to develop and post an analysis that examines the effect of a proposed property transfer tax before placing such an initiative on the ballot (what Measure ULA did not do).

Locally, we’ve been focused on the extremely negative impact Measure ULA has had on commercial real estate. A study released this month from UCLA’s Lewis Center entitled “The Unintended Consequences of Measure ULA” delves into why we’re seeing a 30-50% decrease in commercial, industrial, and multifamily developments in the City. The deep budget deficits facing the City of Los Angeles ($1 billion out of a $13 billion budget) also concern commercial real estate, especially the deep cuts to public safety. Additionally, we’ve been working closely with Council offices in Santa Monica and Los Angeles on self-certification motions to streamline the plan check approval process.

Whether you’re engaging with our organization through happy hours, mixers, or informational policy briefings, please stay connected and up to date with us on social media or through our BOMA on the Frontline blog.

DOWNTOWN

Downtown Under Watch: Safety Talks, Budget Cuts & a Big TOBY Win

We have been in open dialogue with the new Los Angeles County District Attorney’s office regarding public safety concerns across the County, with a specific emphasis on the Downtown area. We’ve been assured that additional resources are being allocated to address these issues. However, as the City’s budget crisis worsens, it appears that LAPD staffing will face significant cuts. We’ll be keeping a close eye on the budget negotiations.

We’d also like to give a big shout out to Michael Rosenzweig of Avison Young for opening up their beautiful Manulife Plaza building at 515 S Figueroa Street last month for a Regional Roundtable tour . Congratulations on their Regional TOBY win!

SAN FERNANDO VALLEY

SFV's Self-Certification Effort

We continue to monitor LA Councilmember Nithya Raman’s self-certification motion as it moves its way through the Los Angeles City Council. It is currently awaiting a report back from LADBS.

Also, be on the lookout for an upcoming Regional Roundtable this spring—it will be the first time the Regional Council in the SFV comes together this year. Don’t miss it!

WESTSIDE

Policy Pulse: LAHSA Updates, Council Moves & What’s Ahead

Our Government Affairs Committee will be hearing from The People Concern CEO John Maceri about the changes at LAHSA and how homeless service delivery will be impacted by these changes.

We are also working closely with Santa Monica Councilmember Torosis and other Councilmembers who authored a self-certification motion that will receive a report back to Council shortly. Learn More about what was discussed at the April Happy Hour in Beverly Hills and make sure to join us for our future events like our Power Hour on May 7 which will discuss insurance coverage issues.

POWER HOUR - RSVP HERE

HOLLYWOOD / WILSHIRE

A Look at the New Film Tax Credit Bills

The Hollywood/Wilshire Regional Council invites you to join them on Tuesday, April 29, from 9–10 AM to hear about the Hollywood Film Tax Credit Bills from industry leaders including FilmLA’s Vice President of Integrated Communications, Philip Sokoloski, LA County Film Czar Gary Smith, and a representative from the California State Assembly or Senate. These bills aim to bring much-needed financial resources for the entertainment industry back to the greater Hollywood region.

CLICK TO RSVP

LONG BEACH / SOUTH BAY

What’s Next for Safety & Services in El Segundo

We’re keeping the good times rolling in El Segundo as we will hear from Mayor Chris Pimentel at our Power Hour on Thur, May 1 from 12-1pm on the state of public safety and homelessness in El Segundo and more broadly in the South Bay. We also hope to hear from law enforcement and other city leaders in the region.

RSVP

NORTHEAST

Join the Northeast Power Hour!

Please join the Northeast Regional Council on May 6 from 12-1pm as they hear from property tax experts from Ryan LLC, Hunton, and the LA County Assessor's office for a panel discussion on how the Prop 8 Tax Appeal Process Works, what amount of the refund is owed to tenant’s based on their lease’s recovery language, and how BOMA/GLA members can best utilize all the tools available for them.

UPCOMING EVENTS

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BOMA ON THE FRONTLINE

Mayor Bass Proposes Major Cuts to Close Budget Gap—CRE Industry Could Feel the Effects

Los Angeles is facing a nearly $1 billion budget deficit for the upcoming fiscal year, and Mayor Karen Bass is proposing 1,647 layoffs along with several department consolidations to close the gap.

What the LA Convention Center Expansion Means for Commercial Real Estate

The Los Angeles City Council has voted to keep moving forward with the Convention Center expansion, even though it won’t be finished in its entirety before the 2028 Olympics.