Legislative News

• CA COMMERCIAL REAL ESTATE SUMMIT – LESS THAN A MONTH AWAY!
• CCRES EVENT FAQ'S
• CBPA 2022 CALENDAR

A proposed ballot measure known as the “South San Francisco Early Care for All Parcel Tax” is circulating and would call for an annual parcel tax on commercial office space at the rate of $2.50 per square foot beginning on July 1, 2023. “Commercial Office Parcel” is defined as any parcel that is developed and used by a business entity primarily for operations or services that are professional, scientific, or technical in nature.

Beginning Wednesday, March 24, San Francisco will resume most businesses and activities that are allowed by the State in the orange tier. This includes indoor offices, outdoor bars, and indoor recreation, as well as expanded outdoor entertainment, as long as they comply with required safety protocols.

Offices:

• Indoor non-essential offices of 20 or more employees may reopen at up to 25% capacity, including meeting and conference rooms at 25% (though use of conference rooms should be minimized).
• Indoor offices of fewer than 20 employees must reduce their capacity to whatever allows for required 6 feet of physical distancing between employees at all times.

This quarterly one-page summary is put together by our NAIOP SFBA Government Affairs Committee to keep members informed about state and local legislation that might impact our industry. In addition to our Chapter's ongoing relationship with CBPA, which tracks legislation at the State level, New Deal Advisers teams with us to monitor and report on local Bay Area policies that affect commercial real estate.

Join NAIOP SFBA in taking action and oppose Prop I, the proposed increase to the San Francisco City real estate transfer tax on the November 2020 ballot.

• Increases transfer tax from 2.75% to 5.5% on property valued at $10 - $25M
• Increases tax rate from 3% to 6% on property valued at >$25M
• Directs tax revenue toward a general fund held by the City

Example of potential impact on San Francisco office building valued > $25M:

• Average office building price per square foot is approx. $800-$1,000/SF
• New additional transfer tax levy would be approx. $24-$30/SF

• COMMERCIAL REAL ESTATE CALL TO ACTION – HELP MITIGATE HEAT WAVE
• REALTIME ENERGY INFORMATION 
• CA GOVERNOR NEWSOM INFORMATION AND RESOURCES

The NAIOP SFBA Government Affairs Committee (GAC) has put together the following update for our members to stay informed about California State and San Francisco Bay Area local legislation. In addition to our Chapter's ongoing relationship with CBPA, which tracks legislation at the State level, New Deal Advisers teams with us to monitor and report on local Bay Area policies that affect commercial real estate

Just a few days ago, SB 939 passed the Senate Judiciary Committee on a minimum number of votes.
We remain opposed to the bill as the amendments taken so far do not sufficiently address our concerns. We anticipate a battle once the Legislature continues its discussions and ultimately moves toward a vote before June 26th.

Provided by NAIOP SFBA Local Lobbyist: New Deal Advisers

There are a few current relief measures for both property owners and renters in the Bay Area. These pair with state and federal measures to reduce evictions and foreclosures on residential and commercial property. Here below is a current list of initiatives at the local, state and federal levels to alleviate economic strain for property owners and renters.

"Under the extended Stay Home Order, all construction will be allowed to resume as long as specific safety measures are in place. Certain businesses that operate primarily outdoors, such as plant nurseries, car washes, and flea markets, may reopen under San Francisco’s Order. Any employee of a business allowed to operate under the order can also access childcare programs that are allowed to operate. Some outdoor recreational facilities, like skate parks and golf courses, may reopen. The full text of the new order and answers to frequently asked questions is posted at SF.gov."