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Building Industry of Southern California Hosts Successful Economic Forecast and Housing Strategy Summit

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Building Industry of Southern California Hosts Successful Economic Forecast and Housing Strategy Summit


IRVINE, Calif., Could 12, 2022 /PRNewswire/ — The Constructing Business Affiliation of Southern California (BIASC) and their Los Angeles/Ventura (LA/V) Chapter hosted the Financial Forecast & Housing Technique Summit on the Ronald Reagan Presidential Library in Simi Valley, Calif. on April twenty fifth. The occasion was co-hosted by Southern California Management Council (SCLC) and had over 200 registered attendees.

The occasion befell from 3pm – 8pm consisting of a library tour, all-regions board assembly, VIP Reception and concluded with a particular friends panel that includes native elected representatives. In attendance have been BIASC management and Chapter Presidents, together with Southern California’s high builders and landowners.

Former California Governor Pete Wilson, the thirty sixth Governor of California, recorded a message for the viewers stating Sacramento should cut back the regulatory burdens homebuilders face as a way to reverse the state’s declining homeownership charges. “Ten years in the past, 50% of Californians might afford a medium priced residence, however now it is lower than half that, and every time the house affordability statistic drops one other level, one other swath of our inhabitants loses its maintain on the American dream of possession,” he mentioned. “That could be a tragedy, as a result of it additionally signifies that all of the financial and social advantages that include residence possession have been misplaced for them.”

Company heard opening remarks from Los Angeles Supervisor Fifth District Kathryn Barger. The moderator of the occasion was Invoice McReynolds, BIA LA/V Chapter President and Vice President of Land Acquisitions at Warmington Residential. Former Governor Grey Davis, the thirty seventh Governor of California and Co-Chair of SCLC, was a highlighted speaker on the occasion on Wednesday. Christopher Thornberg, founding father of Beacon Economics, offered perception into the 2022 constructing financial forecast and past.

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The Land and Growth Panel included:

  • Greg Bielli, President and CEO, Tejon Ranch
  • Mike Balsamo, Senior Vice President, Governmental Relations, Rancho Mission Viejo
  • Randall Lewis, Senior EVP of Advertising and marketing, Lewis Group of Corporations
  • Nicole Murray, Division President, Shea Holmes
  • Greg McWilliams, Chief Coverage Officer and VP, Fivepoint

The Land and Growth Panel set the tone for the night by expressing the necessity for predictability to exist to ensure that land buying and constructing to proceed efficiently. The regulatory companies must be stopped from promulgating extra guidelines and hurdles to recover from to get away from the huge financial transformation forcing gentrification. All palms on deck are wanted as a way to get neighborhoods and high quality of life again on monitor.

“Our Financial Forecast & Housing Technique Summit gives invaluable info for our members and elected officers to raised interact on housing options,” mentioned BIASC CEO Jeff Montejano. “The rising giant variety of attendees for these management summit’s are excellent and a transparent indication concerning the rising want for higher regional housing insurance policies.”

About
The Constructing Business Affiliation of Southern California (BIASC) is the voice of the area’s constructing business, with 4 chapters providing localized providers to constructing professionals from Ventura to the southern tip of Orange County. All through its 99-year historical past, the affiliation has served its builder and affiliate members by anticipating, defending and selling their widespread pursuits by way of its many applications, providers, councils and committees. For extra info on the Constructing Business Affiliation of Southern California, go to https://biasc.org/.

IMAGE DOWNLOAD 
IMAGE CAPTIONInvoice McReynolds (BIA LA/V Chapter President and Vice President of Land Acquisitions, Warmington Residential), Christopher Thornberg (Founder, Beacon Economics), Mike Balsamo (Senior Vice President, Governmental Relations, Rancho Mission Viejo), Randall Lewis (Senior EVP of Advertising and marketing, Lewis Group of Corporations), Nicole Murray (Division President, Shea Holmes), Greg Bielli (President and CEO, Tejon Ranch), and Greg McWilliams(Chief Coverage Officer and VP, Fivepoint).

SOURCE Constructing Business Affiliation of Southern California, Inc.

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California

California increases paid family leave and disability benefits to historic levels

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California increases paid family leave and disability benefits to historic levels


LOS ANGELES (KABC) — A new California law aims to ease the financial burden during some of life’s biggest transitions and challenges.

This year, paid family leave and disability benefits increased to historic levels.

“Previously, most workers would only receive 60% of their income,” explained Katherine Wutchiett, a senior staff attorney at the nonprofit organization, Legal Aid At Work.

“The dream of being able to take care of your baby, newborn baby, or being able to take care of a family member that’s ill, you couldn’t do it,” said California Sen. María Elena Durazo (D-Los Angeles.)

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What’s the new California parental leave law?

Under the new law authored by Durazo, eligible California workers can now receive between 70% and 90% up to a cap.

“As a mom of two who just recently had a baby, I think increasing it to 90% is really important,” said Savannah Powell, who also stressed parental leave should be available for a longer period of time. “Families need that to stay afloat.”

Under the new law, those who make about 70% of the state’s average weekly wage — about $63,000 or less annually — will receive 90% of their income.

“Folks who make more than that will receive 70% to 90% of their income,” said Wutchiett.

The benefits apply to eligible workers filing for state disability insurance, or paid family leave. That includes those who may be navigating military deployment, adoption or caring for a seriously ill family member.

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“We’ve got, in California, 1.3 million individuals that are caregivers,” said Gloria Crockett, the regional vice president and executive director for the California, Southland chapter of the Alzheimer’s Association.

The organization did not take a position on the bill.

Part of what the law does is remove a cap that allowed higher income earners to stop contributing to the fund for these state benefits.

“These are all inequities that we identified and we said, ‘We have to fix this,’” said Durazo.

Legal Aid At Work is one of the organizations that co-sponsored the bill.

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Wutchiett explained that while the increase applies only to claims filed beginning in 2025, there are some options.

“If, for instance, somebody hasn’t applied yet, and maybe they started taking time off from work in the last week of December, they could make the decision to date their claim just starting in January,” she said.

Copyright © 2025 KABC Television, LLC. All rights reserved.



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California’s first snow survey of 2025 shows nears average snowpack, but more is needed

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California’s first snow survey of 2025 shows nears average snowpack, but more is needed


California water officials reported a good start to the snowpack in the Sierra Nevada but are also saying more snow is needed through the rest of winter to stay on track.

In the first snow survey of the year at the Phillips Station, the California Department of Water Resources said the area currently sits at 91 percent of its average. The survey revealed a snow depth of 24 inches and nine inches of snow water.

Looking statewide, the DWR says California is at 108 percent of average for early January. Electronic readings revealed a snow water equivalent of nearly 11 inches.

A year ago, the DWR said the state was at 28 percent. 

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The strong start to the season comes after record-breaking heat from the summer carried into the fall. Things started to change when an atmospheric river broke multiple rainfall records in Northern California and a series of storms in December added to those totals. 

Despite the near-average numbers, officials are saying more snow is needed throughout the winter. 

“While our snowpack looks good now, we have a long way until April when our water supply picture will be more complete,” said DWR director Karla Nemeth. “Extreme shifts between dry and wet conditions are continuing this winter and if the past several years are any indication, anything could happen between now and April and we need to be prepared.”

Back in 2022, Janurary’s snowpack was well above average but the state dried out for the rest of the winter, erasing those early totals. 

But California’s reservoirs are sitting at a healthy spot after two consecutive years with above average snowfall. Statewide, reservoirs are at 121 perfect of average, the DWR says. 

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California’s largest reservoir, Shasta Lake, is 130 percent above the historical average while the state’s second-largest reservoir, Lake Oroville, is 126 percent above the historical average. 

The DWR conducts monthly snow surveys at the Phillips Station from January through April, sometimes in May. The next survey is scheduled for Feb. 3.

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California regulator proposes cutting power bills 5% after doubling rates since 2014 – Washington Examiner

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California regulator proposes cutting power bills 5% after doubling rates since 2014 – Washington Examiner


(The Center Square) – Following an executive order from California Gov. Gavin Newsom to explore how to reduce energy prices that have doubled since 2014, California’s energy regulator issued proposals it said would cut rates by 4% to 5% in the first year but grow significantly over time.

These proposals include reforming the program that will pay homeowners $8.5 billion this year for solar panel energy, phasing out funding of non-energy related social programs such as “food deserts” assistance from energy budgets, and reducing capital expenditures. 

Under current regulations, utilities’ profits are capped relative to the value of their capital investments, which the report says incentivizes utilities to spend and borrow as much money as possible to increase their profit allowance – at ratepayers’ and taxpayers’ expense. 

According to the California Public Utilities Commission’s latest electricity rate report, rates for the state’s three largest utilities have increased by an average of 96% since January 2014 and 42% since January 2021.

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“California’s electricity rates have surged beyond inflation, straining households and businesses hindering decarbonization efforts,” wrote the CPUC. “Wildfire mitigation measures, costly infrastructure investments, and rooftop solar subsidies all contribute to rising costs. Without changes in how utilities recover expenses, rates will continue to climb.”

The governor’s order put significant constraints on the CPUC’s scope of recommendations, requiring the recommendations “reduce costs to electric ratepayers without compromising public health and safety, electric grid reliability, or the achievement of the State’s 2045 clean electricity goal and the State’s 2045 economywide carbon neutrality goal.”

Within these constraints, the CPUC made four recommendations on how to reduce rates by 4-5% within the first year, with future rate reductions growing over time.

First, CPUC recommended minimizing “expensive construction projects,” explaining how current regulations encourage utilities to choose expensive options that allow them to raise their CPUC-regulated profit allowance. 

“There is a profit motive for utilities to pursue capital-intensive projects, as they earn a ‘return on equity’ on these investments which increases overall costs for ratepayers,” wrote the CPUC, which must approve utility projects. “Without proper oversight, this profit motive can lead to prioritizing expensive projects over more efficient alternatives.”

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In addition to recommending choosing lower cost options, the CPUC also suggested securitizing some higher cost projects, which would require bonds to be issued, and paid back by ratepayers — which would not come with ROE provisions. CPUC estimates this change on just undergrounding of power lines could save customers $41 million per year in 2025, and $310 million per year by 2026. 

CPUC suggests significantly reforming the rooftop solar subsidy plan that will issue $8.5 billion per year by the end of 2024 — up from $3.5 billion per year in 2021 — to energy customers with solar panels installed.

Under the existing plan, solar-equipped customers “receive payments at retail electricity rates for their exported energy, often exceeding its actual market value.” 

Utilities often must pay other operators to take excess solar energy, on top of paying solar customers the retail rate for the negative-value solar energy, leaving non-solar customers with the bill. 

“These growing subsidies, paid for by non-rooftop solar customers, contribute to higher electricity rates and result in a higher cost burden to non-[solar] customers,” wrote the CPUC. “Additionally, rooftop solar customers do not contribute their fair share of fixed grid costs, such as maintaining power lines and ensuring grid reliability.” 

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An earlier CPUC report found 15% of non-solar customers’ energy bills went towards payments to solar customers. 

The CPUC recommends reducing the solar compensation rates and transitioning buyers of property with high-reimbursement agreements to the current lower rate. 

CPUC further recommended that utilities “phase out non-cost-effective programs from electricity rates,” that it says often have “very little to do with reducing energy consumption,” which means “funding them through customers’ energy bills effectively acts as a regressive tax.” 

The CPUC said “programs addressing food deserts or supporting high school and community college courses, while socially beneficial, are better suited for taxpayer funding than ratepayer funding.” 

It also pointed to a “state-administered grant program for school infrastructure improvements,” and energy efficiency programs, finding, “Despite increasing investment, many of the programs funded today are not cost-effective and do not primarily focus on cutting energy use.”

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The recommendations align with concerns raised by some state lawmakers — especially Republicans, about inequitable energy costs.

“It’s no secret that the benefits of wind and solar energy are not equally enjoyed in some communities,” said California Senate Utility, Energy and Communications Vice Chair Brian Dahle, R-Bieber, in an earlier interview with The Center Square on solar payments. “It’s time for energy resources, renewable or not, to stand independently without offsetting costs by adding more fees and relying heavily on taxpayers’ support.”



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