VICA submitted letters supporting Senate Bill 485, which will foster studio construction and renovation. Southern California stands as a stronghold in the film industry. However, the construction of soundstages in California has not kept pace with the recent growth in film production, scripted television, and streaming content. Investment in new soundstages is constrained by limits on available production tax credits, which create significant uncertainty about long-term demand for new stages. SB 485 will mirror existing tax credits by providing incentives calculated on payments to local suppliers and workers behind the camera for newly constructed or renovated soundstages. In doing so, SB 485 will bring in an estimated total of $4.3 billion in economic activity in the state.

This month, VICA opposed a measure during this week's Los Angeles City Council Housing Committee meeting, which would bring changes to the annual rent adjustment formula. This could end the City's Rent Stabilization Ordinance to limit allowable rent increases and eliminate the important floor for allowable rent increases.

Due to eviction moratoriums, rent freezes, and state mandated rent deferrals, many rental owners have been asked to go more than a year without compensation for the service of providing housing, while facing severe financial hardship and adversity. This pandemic has made many landlords, many of them family-owned, unable to pay their mortgages. Expenses have risen, and landlords continue to employ local tradespeople, contributing billions to the local economy and creating thousands of jobs. Housing providers need to be able to account for financial realities in order to stay in business

This month, VICA's legislative team called into the South Coast Air Quality Management District's Governing Board Meeting to oppose the Warehouse Indirect Source Rule. California's logistics industry is critical to our economy, and supports an estimated 1 out of every 22 jobs in California. The industry rose to the challenges of the past year, ensuring that vaccines, food, and medical equipment were delivered, all while continuing to adopt strategies that make it one of the cleanest supply chains in the world. The Warehouse Indirect Source Rule would put enormous financial strain on these industries, potentially costing tens of thousands of good-paying jobs and reducing available resources to advance zero-emission technologies.

VICA continued to be active in expressing concern over the re-adoption of the COVID-19 Cal/OSHA Emergency Temporary Standards. While we understand that it is difficult to keep pace with evolving knowledge regarding the COVID-19 pandemic, the re-adoption of these standards will freeze employers into a compliance model that is already out of date.

Unfortunately, despite hours of public commentary from businesses and individuals alike who expressed significant concerns about these standards, the Board passed them. These onerous regulations include face coverings for all employees, even if just a single employee is unvaccinated. Further, there are numerous provisions requiring employers to provide respirators for unvaccinated employees' voluntary use. These provisions punish businesses with financial liability for the individual choices of their employees. VICA will continue to monitor these guidelines and any updates regarding this key issue.

This month at the LA Metro Board of Director's meting, VICA emphasized our strong support for the North Hollywood to Pasadena Bus Rapid Transit (BRT) project F1 alignment. This project will be a key regional connection that will provide convenient access to many employers, activity centers, complement existing regional bus lines, offer competitive travel times, and enhance connectivity to Metro and regional rail services. This project provides a greener alternative to live, work and play in the diverse community of the San Fernando Valley and across the region.

This BRT will provide an equitable connection to employees and students to the many destinations in the San Fernando Valley.

This month, VICA staff attended a community meeting hosted by the Los Angeles Department of Water and Power (LADWP) to share their results on the LA100 Study. We want to ensure that new improvements don’t leave the business community financially burdened.

Earlier this month, VICA President Stuart Waldman had a chance to sit down with COWE Communications to talk about leadership, business development, and advocacy. To stream the full interview and to hear what else was covered during this in depth discussion, click here.

A delegation of VICA members and staff virtually visited Sacramento this week to speak with lawmakers about how proposed legislation will impact the San Fernando Valley business community. VICA met with Assemblymembers Thurston Smith, Steve Bennett, Laurie Davies, Lisa Calderon, Heath Flora, Marc Berman, Tom Lackey, Lorena Gonzalez, Laura Friedman, Kevin Mullin, Devon Mathis, James Ramos, and Marc Levine. VICA also met with Senators Steven Bradford, Henry Stern, Shannon Grove, Jim Nielsen, and Bob Archuleta.

If you weren't able to join us this month, click the links below to send letters to legislators on important issues impacting the San Fernando Valley and our business community:

For this month's VICA Newsmaker Connection, Los Angeles County Assessor Jeff Prang engaged our members at another VICA Newsmaker Connection. Our Newsmaker Connection series, presented by State Farm, allows VICA members to hear from and hold discussions with leaders who make the news.

The Assessor discussed issues including problems with recently passed Proposition 19, which allows for property tax exemptions and familial transfers, the San Fernando Valley as a community of interest, and the assessment of property ownership when it comes to Trusts. Assessor Prang shared with members the latest news regarding Business Property Statements, updates on business revenue, and how the Assessor’s Office provided a proactive reduction of personal property (assessments to 47,000 small business in LA County.) The presentation provided insight into the Assessment Roll of 2020 which included $1.7 trillion in total assessed value, saying that property values grew at 5.97%, and that transfers of real property were the largest contributors to growth.

Following the presentation, questions from VICA members included interest in the Assessor's insight into the COVID-19 impacts such as property tax relief and the recent decline in California's population. In response, Assessor Prang shared that if there is an exodus out of the state, this could benefit renters and property owners. When it came to property tax relief, Assessor Prang states that "There is property tax relief available to businesses where the market value has been impacted to the property. The market value has to be less than the assessed value to get that relief. “

This month, VICA members and staff virtually traveled to our nation's capitol to discuss legislation that affects our businesses and communities. ACCESS D.C. is the region's largest annual advocacy trip, connecting almost 100 businesses and civic leaders with federal lawmakers on issues ranging from immigration and education, to transportation and health care.

This trip helps to ensure that our region is a leading voice in the national dialogue. ACCESS D.C. consisted of a coalition of LA Business groups and civic organizations in developing a shared advocacy agenda and virtually traveling to Washington, D.C., as a united voice which enables participants and our partners to elevate the priorities of California and the Los Angeles region. Participants meet with members of Congress, the president’s administration and global leaders to actively engage in advocacy and discuss ideas and solutions on how we can best work with Washington, and other countries, to strengthen our regional economy.

Sponsored by Hilton Los Angeles/Universal City