Earlier this week, BOMA Oakland/East Bay's Strategic Advisory Council met to be updated on the latest regulatory and legislative issues facing the CRE Industry from a Federal, State and Local Level The recording and information handouts are available on our Online Learning Center. Thank you to Sam Lopez, BOMA International, Skyler Wonnacott, BOMA California and Barbara Leslie, Oakland Chamber of Commerce, for their valuable information.
The legislative session ended Saturday, August 31st with a handful of successes and two major blows to the commercial real estate industry. The last-minute gut-and-amend bill AB 98 (Carrillo; D-Palmdale and Reyes; D-San Bernardino), which restricts warehouse development, passed the Legislature despite heavy opposition. The commercial lease mandate bill SB 1103 (Menjivar; D-Van Nuys) also passed by one vote in each house, despite our industry's efforts opposing the bill. We will now shift our focus toward advocating for a veto on both bills by Governor Newsom, who will have until September 30th to sign or veto bills.