Proposition 13 Overhaul Qualifies for November Ballot

The ballot initiative creates a “split roll” if voters approve it in November. Under the split roll, commercial and industrial property with a fair market value of more than $3 million would be reassessed at its current fair market value at least every three years. Full story. 

Proposed California Bill Would Allow Retail Tenants To Break Leases With Little Penalty

AIR CRE, a California commercial real estate advocacy organization, sent a letter to its members warning them of the dire consequences of the legislation and to take action to oppose the bill. Full story

Trump Signs Coronavirus Aid Bill

President Donald Trump signed a nearly $500 billion interim coronavirus bill into law that includes additional money for the small-business loan program, as well as more funding for hospitals and testing. Full Story

Fed Holds Rates Steady, Affirms Commitment to Higher Inflation

The central bank’s Federal Open Market Committee said Wednesday it will hold its benchmark funds rate in a range between 1.5% to 1.75% Full Story

Interest Rates Left Unchanged

Fed Decision indicates no changes through 2020.  Full Story

Fed Cuts Interest Rates

The Federal Open Market Committee lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%, as expected.  Full Story

Glendale Officials Rush to Regulate Street Vending by the Holidays

Glendale officials are hurrying to establish rules regarding how street vendors can operate within the city by the upcoming holiday season when local business leaders anticipate a hike in activity.  Full Story

Fed Cuts Interest Rates by Another Quarter Point

The Federal Reserve lowered interest rates by a quarter of a percentage point, its second cut since late July.  Article

No rate moves are coming

Fed minutes: No rate moves are coming ‘for some time’ even if the economy improves.  Federal Reserve officials remained firmly committed to a “patient” policy stance at their meeting earlier this month, saying rates likely will remain unchanged well into the future.   Full Story

High-Profile California Housing Bill Dies Without a Vote

Senate Bill 50 would have rewritten zoning laws and forced local governments to allow taller apartment buildings and other multi-family complexes near transit areas and job centers.   it won’t be considered again until January 2020 Full Article