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CBPA Release: SB 939 Passes Legislative Committee

Tuesday, May 26, 2020   (0 Comments)
Posted by: Matthew Peralta
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Press Release Via the California Business Properties Association

SB 939 (WIENER) PASSES SENATE JUDICIARY

Exacerbate the State’s Financial Crisis by Replacing a Short-Term Loss in Business Revenue Problem with a Mortgage Default Crisis

SACRAMENTO – In response to SB 939 passing the Senate Judiciary Committee on a bare minimum of votes, Rex Hime, President and CEO, California Business Properties Association released Following statement:

“CBPA members agree that all businesses are hurting due to the government mandated shelter in place order and look forward to working with Senator Wiener on a bill that helps both business renters and property owners.  SB 939 does not currently do that.  It puts all the burden on property owners and will simply compound the crisis.

“We call on the Legislature to write a bill that helps all businesses and balances the needs of both property owners and commercial property renters.”

CBPA is the designated legislative advocate for the International Council of Shopping Centers (ICSC), the California Chapters of the Commercial Real Estate Development Association (NAIOP), the Building Owners and Managers Association of California (BOMA), the Retail Industry Leaders Association (RILA), the Institute of Real Estate Management (IREM), and AIR CRE. CBPA is the largest commercial real estate consortium with over 10,000 industry members.