Split Roll Attempt Officially Launched
S.F. Assessor Takes On Proposition 13
jsanders@sacbee.com
by Jim Sanders
A new group calling itself the “Close the Proposition 13 Loophole Committee” has been registered with the Secretary of State’s Office. This action, taken by San Francisco Assessor Philip Ting, is the first step to running a state wide proposition to create a “Split Roll Property Tax,” which would remove current Proposition 13 protections from business properties and allow them to be taxed at a higher rate and/or be assessed differently than residential properties. According to an op/ed in the San Francisco Chronicle last week, Ting wants to amend the 1978 initiative to allow increased taxes on commercial property.
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Good Buy or Bad Buy?
Look No Further Than Rent Rolls, Says Kimco Executive
by Matt Valley
LAS VEGAS — For David Lukes, chief operating officer of Kimco Realty Corp., determining whether or not a retail property on the selling block is a good deal, boils down to one simple question: Is the rent roll below market or above market?
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Despite Spring Thaw, Harsh Forecasts Continue for Retail
by Paul Rosta, Senior Associate Editor
The retail sector’s current distress will eventually provide ample opportunities for investors and retailers. But the slight spring thaw in consumer attitudes about retail will not be enough to prevent harsh conditions for the rest of the year, according to multiple national assessments of the retail sector published during the past week.
“Though contraction will be the harsh reality for most, the strongest concepts will benefit, not only from the elimination of their competition, but from the best tenant’s market in decades,” Colliers International’s spring survey concludes.
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CAA Leads Sucessful Coalition to Amend Parking Space Bill
by California Legislative Briefing-California Apartment Association
In mid May, CAA’s Legislative Steering Committee reviewed SB 518 authored by Alan Lowenthal (D- Long Beach) and took an oppose position. The language in the bill, at the time, mandated that cities and counties adopt parking reforms that will have the effect of lowering or eliminating parking at residential and commercial buildings.
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CAA Supports Legislation to Keep Tenants Safe from Gangs
by California Legislative Briefing-California Apartment Association
The California Apartment Association has taken a support position on AB 530, which helps rental property owners keep residential communities safe by authorizing prosecutors to bring eviction actions against gang members who use their residences to stockpile illegal weapons and who are involved in illegal drug activity.
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Forecasters Say Recession Nearing End
by Jeannie Aversa, The Associated Press
More than 90 percent of economists think the recession is nearing its end, but they don't expect the economy to soar anytime soon.
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Unemployment Drops
In Fresno County
by State of California/Employment Development Department
Monthly Labor Force Data – April 2009
Fresno Metropolitan Statistical Area (MSA) including Fresno County
The unemployment rate in the Fresno County was 15.5% percent in April 2009, down from a revised 16.9 percent in March 2009.
Between March 2009 and April 2009, total wage and salary employment increased by 11,600 jobs (up 3.5 percent) to total 341,900. The month-over gain was concentrated in farm employment, which grew by 10,800 jobs (up 30.3 percent), while nonfarm employment expanded by 800 jobs (up 0.3 percent).
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New Properties
by Greg Bethke
Manco Abbott, Inc. is pleased to be managing the following properties in the Central San Joaquin Valley and Central Coast.
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Employee Anniversaries
by Andrea Kennedy
We proudly acknowledge employee anniversaries; each of these individuals have one or more years of tenure. Thank you to each and everyone for sharing your time and expertise to help us be the best that we can be!
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